CryptoMediaClub
Tuesday, July 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

FTX Estate Set To Auction Locked Solana Tokens, Figure CEO Mike Cagney Says

22.04.2024
A A
0
131
VIEWS
ShareShare

Figure CEO Mike Cagney alleged in a Saturday X post that the FTX estate is set to auction off the next lot of its long-awaited locked Solana tokens.

Just got confirmation that the next round of locked #solana coins from the #FTX estate will be an auction, with exact details coming Monday. If you want in, join us. https://t.co/RuA41vgWAx

— Mike Cagney (@mcagney) April 20, 2024

The locked batch of Solana coins has generated intense interest from prospective buyers due to the surge in SOL prices.

According to Cagney, additional details regarding the auction are expected sometime this week.

Crypto Exchange Creditors Unhappy With Estate Plans

Despite being spearheaded by expert asset recovery attorney John J. Ray III, not all FTX creditors are happy with how the doomed crypto exchange’s estate is being handled.

Former customer and current advocate of FTX victims Sunil Kavuri has criticized law firm Sullivan and Cromwell for what he views as the unfair redistribution of ex-customers’ digital assets.

“S&C are adamant in selling FTX creditors locked Solana at a heavy discount to their own clients (Galaxy), despite our objections,” Kavuri wrote in an April 21 X post.

News of the FTX estate’s latest auction comes just weeks after it sold over $2.6 billion of discounted Solana tokens to several key players in the crypto industry, including Galaxy Digital.

Critics of the FTX estate’s handling allege mismanagement, as Sullivan and Cromwell had previously served as an advisor to crypto firm Galaxy Digital.

Kavuri claims that Cagney has reportedly designed “a structure to allow retail FTX creditors to participate” in the auction through a $5,000 minimum investment, however.

“It’s not right for FTX to sell our property,” Kavuri wrote. “Any value S&C and co-conspirators have destroyed for FTX creditors, they are being sued for through our class actions.”

SBF To Settle With Victims

The upcoming Solana auction comes just days after Kavuri announced that lawyers for the crypto exchange’s victims involved in a class action lawsuit agreed to settle with FTX founder Sam Bankman-Fried.

Clarification on media reporting – limited to celebrity promoters

John Ray/Sullivan and Cromwell have hindered our class action efforts, we have also written to the FTX independent examiner

We have settled with SBF, he has agreed to share documents and information on all and… pic.twitter.com/InvMh7UXHj

— Sunil (FTX Creditor Champion) (@sunil_trades) April 21, 2024

Calling the settlement “a big win for FTX victims,” the latest legal move involving the crypto exchange’s estate will see Bankman-Fried provide details on an extensive number of high-profile individuals and entities previously affiliated with FTX, including Shaquille O’Neal, Kevin O’Leary, and Tom Brady.

“John Ray/FTX debtors have refused to provide information and have hindered our class action efforts,” Kavuri said. “Sullivan and Cromwell is also a defendant.”

At the time of publication, Solana was priced at $153.33, up 601.50% this year alone.

The post FTX Estate Set To Auction Locked Solana Tokens, Figure CEO Mike Cagney Says appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys
All news

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys

29.07.2025
0

A new study has revealed the extent of sensitive information leaked through ransomware attacks and data breaches, including key financial...

Read moreDetails

PayPal Expands Crypto Payment Acceptance in U.S.

29.07.2025
US Seeks to Claim $2.4M Bitcoin Seized from Chaos Ransomware Group

US Seeks to Claim $2.4M Bitcoin Seized from Chaos Ransomware Group

29.07.2025
Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

29.07.2025
Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

29.07.2025
Load More
Next Post
SafeMoon CEO John Karony Claims He’s “Innocent” Of Multi-Million Crypto Fraud Scheme

SafeMoon CEO John Karony Claims He’s “Innocent” Of Multi-Million Crypto Fraud Scheme

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

California approves blockchain-based digital wallet for gov’t services

California approves blockchain-based digital wallet for gov’t services

2 years ago
Over 60% of Young Indonesians Invest in Crypto: Report

Over 60% of Young Indonesians Invest in Crypto: Report

9 months ago
Is Bonk Going to Zero? BONK Price Drops 33% While Rival Solana Meme Coin Snags $10M

Is Bonk Going to Zero? BONK Price Drops 33% While Rival Solana Meme Coin Snags $10M

1 year ago
Bitcoin Price Down 10% Since End Of July 29, DOW Also Slips

Bitcoin Price Down 10% Since End Of July 29, DOW Also Slips

12 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

US Seeks to Claim $2.4M Bitcoin Seized from Chaos Ransomware Group

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

Interactive Brokers Mulls Stablecoin Launch to Serve Users

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

Trending

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys
All news

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys

29.07.2025
0

A new study has revealed the extent of sensitive information leaked through ransomware attacks and data breaches,...

Global stablecoin searches hit all-time high with Washington leading traffic

Global stablecoin searches hit all-time high with Washington leading traffic

29.07.2025

PayPal Expands Crypto Payment Acceptance in U.S.

29.07.2025
US Seeks to Claim $2.4M Bitcoin Seized from Chaos Ransomware Group

US Seeks to Claim $2.4M Bitcoin Seized from Chaos Ransomware Group

29.07.2025
Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

29.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz