Solana (LEFT), Cryptocurrency exchange FTX has announced the effects of its bankruptcy on their ecosystem.
Solana official blog site 21 November In his updated report on , he explained the effects of the FTX collapse on their ecosystems. network security Not affected by the FTX bankruptcy Saying that, Solana stated that some of the assets are stranded within FTX. Analysts find stranded assets at the beginning of November approximately 160 million dollars claimed it was worth it.
The report reports approximately the amount of cash and cash equivalents of the Solana Foundation stranded in FTX. 1 million dollars approximately the amount of cash and cash equivalents on the Solana Foundation’s balance sheet. to 1% was stated to be coincidental. In the statement, it was underlined that the effect of the trapped cash position on the operations of the foundation was negligible.
On the other hand, with the closing of asset transfers by FTX on November 6, the foundation has become a part of FTX. $3.24 million worth of FTX Trading LTD common stock, 3.43 million FTT and 134 million It was reported in the report that SRM was stranded. Solana stated that it remains unclear for now whether the stranded assets can be recovered. Also, the report states that many of the DeFi projects operating in Solana are not affected by FTX. or little affected expressed.
According to Coinecko data, at the beginning of November $0.78 to $0.85 traded between SRM, after FTX’s bankruptcy of 87% losing value on for $0.18 showed a decline.