FTX Estate SOL Sales

The FTX Estate is said to have completed its second tranche of ~1.8M SOL ($232M) in the range of $95-110. This is a much smaller discount to spot price than the earlier round of $64.

 

The next round looks to start on May 1st and will be open to non-US and US accredited investors. I believe there are still 12M SOL left to sell.

 

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Wonder how much this has contributed to recent sell pressure.. would imagine some investors probably sold some spot SOL to participate in the auction, effectively rebuying at the discounted price (would have to be comfortable with tradeoff between the size of the discount vs. illiquidity of 4yr lockup)