The list of illiquid tokens includes a Donald Trump prediction token, an animal fundraising coin, and tokens for several Solana projects.
The new management of the financial exchange FTX has identified $ 5.5 billion in assets that can be used to pay creditors, causing fears that a large number of crypto assets will be thrown into the market.
On January 17, FTX creditors identified $3.5 billion in crypto assets, including $1.6 billion tied to unsecured currency exchanges. Notable assets are Solana FTT’s SOL and FTX Exchange tokens, as well as liquid assets such as XRP, DOGE, Aptos (APT), Polygon (MATIC), TON, and BitDAO (BIT). The divers took the signs seriously during the unpaid appeals. Cinneamhain Ventures partner Adam Cochran said:
“Therefore, the liquidators count the amount of money on the filing date and consider FTT $529 as ‘water’ in the calculation, and Solana $685 million which will crush the SOL market.”
He added that these are the only “water” indicators they read, adding that “anything else will make the price fall if you sell it.”
A list of negative crypto tokens has also been identified, causing fear that they will be sold, causing the price to fall. On January 18, Fortune reporter Leo Schwartz also released the FTX report, detailing that the list of “unsafe items” included nearly 10 billion Serum (SRM), LUNA, and Solana brands. of BTC and ETH. But most are service icons like TRUMPLOSE, BEAR, and MEDIA.
He pointed out that TRUMPLOSE is like an “Easter egg” that is connected to FTX in Alameda supporting Democratic politicians and big donations. TRUMPLOSE is the forecast used by FTX during the US presidential election. Traders can buy TRUMPWIN or TRUMPLOSE tokens that will settle for $1 if Trump wins or loses. FTX has almost 14 million.
BEAR Coin is a cryptocurrency designed to help animals by fundraising in partnership with NGOs and animal lovers. They are 190 billion in the balance sheet of FTX.
It also has 8.3 million signals from the bandwidth distribution network, Media. The list continues with 9.8 billion MAPS from the travel app Maps.me and nearly 10 billion OXY for Solana-based DeFi broker Oxygen.
Other negative assets include 2.4 billion in Alium Finance (ALM) and more than 277 million in Bonafida (FIDA), Solana’s development arm. The list also includes holdings BRZ, GT, LIKE, HRXO, MSOL, JSOL, XSUSHI, AELPH, and JET.
In Jan. On December 18, FTX founder Sam Bankman-Fried returned in a new blog saying that the FTX news and the state of the company are “grossly misleading.”
“FTX US was solvent when it was handed over to S&C [Sullivan & Cromwell], it’s almost solvent today,” he said.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up