Solana Co-Founder Anatoly Yakovenko Says FTX’s SOL Tokens Should Be Distributed to Ex-Customers

Solana co-creator Anatoly Yakovenko says that SOL tokens sitting within the reserves of FTX must be redistributed to the bankrupt crypto trade’s former clients.

Almost a yr after its chapter, Solscan information exhibits that FTX nonetheless holds almost seven million SOL tokens in a sequence of chilly storage wallets, price about $135 million at present costs.

On social media platform X, Yakovenko says that giving a big stack of SOL tokens to tens of millions of recent customers wouldn’t solely assist make FTX customers complete but additionally additional benefit the Solana community, presumably via onboarding and decentralizing.

“My want could be to distribute the SOL to all of the FTX clients straight. Most likely the least worst consequence for everybody…

And getting it distributed to five million customers would profit the community over the long run. Win-win in my sincere opinion.”

Yakovenko, also called Toly, says that the SOL distribution would in all probability be extra environment friendly than the drawn-out authorized process that FTX has been going via.

“Looks as if it might have been a a lot quicker course of and with much less authorized overhead if the whole lot was simply evenly cut up throughout all of the customers and let every consumer do what they’ll.”

Because of FTX’s giant SOL holdings, Solana was disproportionately affected by the disgraced trade’s collapse final yr, pushing the Ethereum (ETH) rival right down to $8 after buying and selling at $260 only a yr prior.

At time of writing, SOL is buying and selling for $19.35.

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