Solana co-creator Anatoly Yakovenko says that SOL tokens sitting within the reserves of FTX needs to be redistributed to the bankrupt crypto alternate’s former clients.
Practically a 12 months after its chapter, Solscan knowledge reveals that FTX nonetheless holds practically seven million SOL tokens in a sequence of chilly storage wallets, price about $135 million at present costs.
On social media platform X, Yakovenko says that giving a big stack of SOL tokens to thousands and thousands of latest customers wouldn’t solely assist make FTX customers entire but additionally additional benefit the Solana community, presumably via onboarding and decentralizing.
“My want could be to distribute the SOL to all of the FTX clients instantly. Most likely the least worst end result for everybody…
And getting it distributed to five million customers would profit the community over the long run. Win-win in my sincere opinion.”
Yakovenko, also referred to as Toly, says that the SOL distribution would most likely be extra environment friendly than the drawn-out authorized process that FTX has been going via.
“Looks as if it will have been a a lot quicker course of and with much less authorized overhead if all the pieces was simply evenly break up throughout all of the customers and let every consumer do what they may.”
As a consequence of FTX’s giant SOL holdings, Solana was disproportionately affected by the disgraced alternate’s collapse final 12 months, pushing the Ethereum (ETH) rival right down to $8 after buying and selling at $260 only a 12 months prior.
At time of writing, SOL is buying and selling for $19.35.
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