Solana co-founder, Anatoly Yakovenko, has suggested that FTX’s native cryptocurrency, SOL, should be distributed to customers. This proposal is aimed at boosting the adoption and usage of Solana’s blockchain technology. By offering SOL tokens to FTX users, it encourages them to explore the potential of the Solana network and its functionalities. This move aligns with Solana’s goal of becoming a leading blockchain platform and competing with the likes of Ethereum and Binance Smart Chain.

The recent movement of tokens from FTX’s cold storage wallets indicates that the crypto exchange’s new management may be planning to sell its significant holdings of Solana (SOL). With nearly 7 million SOL collectively held in these wallets, amounting to approximately $134 million, the potential sale could have a significant impact on the market.

Solana, being the 10th-largest cryptocurrency by market cap, had deep ties with FTX before the exchange went bankrupt in November 2022. FTX’s co-founder and former CEO, Sam Bankman-Fried, was a prominent supporter of Solana and had launched a marketplace for Solana NFTs. Additionally, FTX had invested in various Solana-related projects, showcasing its strong connection with the network.

The Solana Foundation, in collaboration with Solana Labs, had sold a substantial amount of SOL to FTX and its sister trading firm, Alameda Research, last year. However, the exact amount of SOL still held by FTX at the time of their bankruptcy filing is unknown.

The movement of SOL tokens from FTX’s wallets has caught the attention of analysts, who have speculated about the intentions behind these transactions. Solana’s co-founder, Anatoly Yakovenko, has proposed a “win-win” solution, suggesting that the SOL be distributed directly to ex-FTX customers. This approach, in Yakovenko’s view, would benefit both the users and the network in the long term.

Yakovenko’s proposal involves providing FTX customers with three options: taking an even split of the SOL, selling their share in a Dutch auction, or bidding into the Dutch auction with priority over external bids. By giving users control of their assets and allowing them to sell their share in a fair auction, Yakovenko believes that the outcome would be favorable for the entire user base.

However, it remains unclear whether FTX’s new management has confirmed any plans to sell the SOL holdings. Furthermore, former FTX customers are eagerly awaiting the return of their assets after the exchange’s collapse.

The recent movement of Solana (SOL) tokens from FTX’s cold storage wallets has sparked speculation about the intentions of the crypto exchange’s new management. With approximately $134 million worth of SOL held collectively in these wallets, the potential sale of FTX’s holdings could have significant implications for the market.

Solana, known as the 10th-largest cryptocurrency by market cap, had a strong connection with FTX before the exchange’s bankruptcy in November 2022. FTX’s co-founder and former CEO, Sam Bankman-Fried, was a vocal supporter of Solana and had even launched a marketplace for Solana NFTs. Moreover, FTX had invested in numerous Solana-related projects, further solidifying their ties with the network.

The Solana Foundation and Solana Labs had sold a considerable amount of SOL to FTX and its sister trading firm, Alameda Research, in the past. However, the exact amount of SOL retained by FTX at the time of their bankruptcy filing remains undisclosed.

Analysts have taken notice of the recent movement of SOL tokens from FTX’s wallets, speculating about the motives behind these transactions. Anatoly Yakovenko, co-founder of Solana, has proposed a potential solution that he considers a “win-win” for all parties involved. Yakovenko suggests distributing the SOL directly to the ex-FTX customers, granting them control over the assets.

Under Yakovenko’s proposal, FTX customers would have three options: receiving an equal share of the SOL, selling their share through a Dutch auction, or participating in the Dutch auction with priority over external bids. This approach, according to Yakovenko, would benefit the network in the long term and allow users to have a fair chance at monetizing their assets.

While the intentions of FTX’s new management regarding the sale of SOL remain unconfirmed, individuals who were affected by the exchange’s collapse anxiously await the return of their assets.