The estate of FTX, currently tasked with the administration of the bankruptcy and corporate restructuring of the formerly active cryptocurrency exchange, has disclosed assets valued at $1.16 billion in Solana (SOL) and $560 million in Bitcoin (BTC).
FTX Holds 16% of Solana’s Total Market Capitalization
A recent court filing on a Monday divulged the principal digital assets under the estate’s control. As of the close of business on August 31, 2023, the liquid tokens in question have an aggregate value of approximately $3.4 billion. The document also highlighted an additional asset of nearly $200 million in Bahamian real estate. Among all the assets, Solana (SOL) is the most dominant in FTX’s holdings.
As of the date of September 11, 2023, Solana’s market capitalization is assessed at $7.24 billion. Of this, FTX’s share amounts to an impactful 16%, translating to $1.16 billion. In addition to this, FTX’s eclectic cryptocurrency portfolio encompasses $560 million in Bitcoin (BTC), $192 million in Ethereum (ETH), $137 million in APT, $120 million in Tether (USDT), $119 million in Ripple (XRP), $49 million in BIT, $46 million in STG, $41 million in Wrapped Bitcoin (WBTC), and $37 million in Wrapped Ethereum (WETH). On the securities side, FTX maintains over $529 million in Debtor brokerage accounts, with $417 million allocated to the Grayscale Bitcoin Trust (GBTC).
Additional Financial Details of FTX’s Portfolio
Moreover, a modest sum of $100,000 is invested in Blackrock equities under the estate’s management. Within FTX’s venture capital holdings, the estate claims 438 investments, accumulating to $4.5 billion in funded assets. This notably includes a substantial investment in Anthropic, a competitor to OpenAI and the entity behind the generative AI chatbot named Claude. It is pertinent to add that FTX also controls more than 1,000 illiquid cryptocurrencies, the eventual value of which remains uncertain.
Frequently Asked Questions (FAQs) about Cryptocurrency Holdings
What is the significance of the FTX estate’s disclosure of holdings?
How much does FTX hold in Solana and Bitcoin?
As of the disclosed date of August 31, 2023, FTX holds approximately $1.16 billion in Solana (SOL) and $560 million in Bitcoin (BTC).
What percentage of Solana’s market cap does FTX represent?
FTX represents a substantial 16% of Solana’s total market capitalization, indicating a significant stake in this particular cryptocurrency.
What other cryptocurrencies are in FTX’s portfolio?
FTX’s cryptocurrency portfolio includes Ethereum (ETH), APT, Tether (USDT), Ripple (XRP), BIT, STG, Wrapped Bitcoin (WBTC), and Wrapped Ethereum (WETH), among others, with their respective values disclosed.
Are there any non-cryptocurrency assets mentioned in the disclosure?
Yes, the disclosure also highlights nearly $200 million in Bahamian real estate and over $529 million in securities held in Debtor brokerage accounts, with a significant portion in the Grayscale Bitcoin Trust (GBTC).
What is FTX’s venture capital collection?
FTX’s venture capital holdings comprise 438 investments totaling $4.5 billion in funded assets, including notable investments like Anthropic, a competitor to OpenAI.
What are the implications of FTX’s illiquid crypto assets?
You can share your thoughts and viewpoints on the FTX stakeholder update by posting comments in the provided comments section below the article.
More about Cryptocurrency Holdings
- FTX Official Website
- Solana (SOL) Official Website
- Bitcoin (BTC) Official Website
- Grayscale Bitcoin Trust (GBTC) Information
- Anthropic Official Website
- OpenAI Official Website