FTX, once a prominent cryptocurrency exchange, has embarked on a journey to liquidate a staggering $3.4 billion worth of digital assets. This move comes as FTX navigates its downfall and seeks regulatory approval for the disposition of its extensive cryptocurrency portfolio. Here, we unveil FTX’s top 10 digital asset holdings within its bankruptcy estate, shedding light on the crypto giants it holds.
Solana (SOL) Reigns Supreme
FTX’s largest digital asset holding is none other than Solana (SOL). The exchange boasts approximately 55.8 million SOL tokens, with a jaw-dropping valuation of $1,162.0 million. Remarkably, FTX stands as one of the most prominent SOL holders globally, commanding up to 10.0% of SOL’s total supply.
Bitcoin (BTC) Secures Second Place
Following closely behind is the king of cryptocurrencies, Bitcoin (BTC). FTX boasts an impressive stash of around 20.5k BTC, amounting to $560.0 million. Nevertheless, this holding represents only a fractional 0.1% of BTC’s circulating supply, highlighting the vastness of the Bitcoin ecosystem.
Ethereum (ETH) Takes Third Position
Securing the third spot in FTX’s diverse portfolio is Ethereum (ETH). With approximately 112.6k ETH tokens, FTX’s Ethereum holdings are valued at $192.0 million, constituting 0.09% of ETH’s circulating supply.
Dominance of SOL, BTC, and ETH
Collectively, SOL, BTC, and ETH dominate FTX’s asset portfolio, accounting for a substantial 56.3% of its holdings, equivalent to $1.9 billion. This concentration underscores FTX’s significant exposure to these digital giants.
A Mix of Altcoins and Stablecoins
FTX’s portfolio isn’t solely dominated by the cryptocurrency titans. It also includes a variety of altcoins and stablecoins, which collectively constitute 21.8% of the exchange’s holdings. These include Aptos (APT), Tether (USDT), Ripple (XRP), BIT (BITDAO), Stargate Finance (STG), Wrapped Bitcoin (WBTC), and Wrapped Ethereum (WETH).
Diverse and Extensive Portfolio
Apart from the top 10 holdings, FTX’s remaining 21.9% of its portfolio is distributed across a plethora of over 400 additional tokens. This diversification underscores the exchange’s commitment to providing its users access to a wide range of digital assets.
FTX’s SOL Unlock Schedule
It’s essential to note that a significant portion of FTX’s SOL holdings are subject to a structured vesting schedule. While they hold a substantial number of SOL tokens, the majority, totaling 42.2 million tokens, are not immediately tradable on the market due to this vesting schedule.
As FTX navigates the complex terrain of bankruptcy proceedings and regulatory approvals, the fate of its substantial cryptocurrency holdings hangs in the balance. The disclosure of FTX’s top 10 digital asset offers a glimpse into the once-prominent exchange’s diverse crypto portfolio, as it strives to find a way forward in the ever-evolving world of digital assets.