When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value.
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When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value.
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The fund transfer may be part of a recovery effort to repay creditors of the failed FTX crypto exchange.
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The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss Sam Bankman-Fried.
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While the funds represent a small portion of FTX’s overall asset shortfall, the settlement means the firms can avoid a costly legal battle.
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