Creditors object to FTX’s decision to sell more than 30 million locked SOL to crypto ventures at a discount of more than 60%

According to Mars Finance news, FTX creditors strongly objected to the bankrupt cryptocurrency exchange’s decision to sell its SOL holdings to crypto venture capital institutions at a deep discount. It was previously reported that FTX sold as many as 30 million SOL to venture capital institutions such as Pantera Capital and Galaxy Trading at an average price of $64, which is 62% lower than the current market price (which hovered around $176 as of press time). It is reported that these SOLs will be locked for 4 years and cannot be sold. Sunil Kavuri, one of those affected, said the sale cost FTX creditors billions of dollars in value, and accused the company's bankruptcy law firm, Sullivan Cromwell, of disposing of "property" that belonged to creditors and putting clients in the hands of creditors. above.