Solana Foundation reveals minimal exposure to FTX According t | Trade Crypto Now

Solana Foundation reveals minimal exposure to FTX

According to the Foundation, it also had 3.43 million FTX tokens (FTT) and 134.54 million Serum (SRM) tokens on the exchange before it stopped processing withdrawals. Serum is a Solana-based decentralized exchange founded by Sam Bankman-Fried (SBF).

The Foundation continued that FTX and its sister company Alameda Research purchased 50.5 million units of Solana between August 2020 and January 2021. These tokens are valued at over $700 million based on the current value of SOL and are scheduled to unlock in 2028. Apart from that, Solana Labs said it sold over 7.56 million SOL ($106 million) to Alameda Research in 2021.

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