Solana has provided information and updates in the wake of rec | Crypto Valent 🌓

Solana has provided information and updates in the wake of recent events surrounding the commencement of Chapter 11 voluntary bankruptcy proceedings of FTX Trading Ltd., Alameda Research Ltd., and affiliated entities (“FTX/Alameda”).

Solana Foundation had ~$1M in cash or cash equivalents on FTX.com as of 11/6/22 when FTX.com ceased to process withdrawals.
The Solana Foundation had no SOL custodied on FTX.com.
Solana Foundation has exposure to FTX/Alameda. The assets:
• ~3.24m shares of FTX Trading LTD common stock
• ~3.43m FTT tokens
• ~134.54m SRM tokens
The total exposure to Sollet-based assets on Solana in circulation is valued at approximately $40 million as of Nov 10, 2022.
A total of 63 million SOL was previously slated to be unstaked at the conclusion of Epoch 370. This amount included 28.5 million SOL scheduled to be unstaked by the Solana Foundation related to a change in a data center provider’s terms of service.
Most of the largest DeFi projects on Solana had limited or no exposure to FTX, based on a recent assessment by Solana Foundation.

https://solana.com/news/solana-facts-ftx-bankruptcy

Info: @Cryptovalent