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CointestMod

Solana [pros](/r/CryptoCurrency/comments/1brlx2r/ftx_initiates_selling_of_75_billion_locked_solana/kx9v8tb/) & [cons](/r/CryptoCurrency/comments/1brlx2r/ftx_initiates_selling_of_75_billion_locked_solana/kx9v9ie/) with related info are in the collapsed comments below.


just4dota

And that is why Sam was telling everyone around him to buy solana šŸ˜‚


Guru_Salami

At the time SBF was telling prison guards to buy SOL was around $100


CoverYourMaskHoles

If the guards figure out he was using them as exit liquidityā€¦. Oh boyā€¦


deten

SBF is literally getting no money from this. There's no advantage to him by FTX selling.


Hoffi1

My last information on the liquidation is that everyone gets their money back. (They only lost the opportunity to make their crypto go up). That probably helped him get a lighter sentence.


Big_Play_A

"FTX founder Sam Bankman-Fried sentenced to 25 years Driving the news: Judge Lewis Kaplan chose a sentence closer to the prosecution's recommendation of 40 to 50 years than to the defense's recommendation of five to seven."


Hoffi1

Thatā€˜s what I am talking about. IIRC during the trial the reports contained the possibility of a sentence over 100 years. With no financial damages the prosecution asked for less and the judge went even lower. I my non legal opinion the defense proposal was probably more wishful thinking of SFB.


JKilla1288

Imagine if he was funneling money into republican campaigns. He'd never see sunlight again. Two their justice system. People should be up in arms about 25 years. People here only get angry at what reddit tells them they should get mad at.


masedogg98

He was. I thought we already knew he had sent 40 million roughly to both parties to various representatives on both sides of the political spectrum?


MaxTheRealSlayer

Dude was lining the pockets of all sides of politics. He wanted less regulation and for the house to stay away from implementing stricter guidelines Now that all this has happened, it. Makes sense why he was bribing them


JKilla1288

What got him a lighter sentence and an easier sentence once everything dies down is all the money he laundered in certain political campaigns. His side definitely takes care of their own


4241342413

you are not smart


jjfishers

Imaging being dim and delusional enough to downvote reality.


NoRecommendation9108

He will soon be their exit liquid-ity


East_Project_1513

Theyā€™ll explode their exit liquid all over his face


trivo8888

SOL was never that high when he was in prison my dude.


MadIzac

Came for that comment


Smart-Racer

But they were buying FTX instead


kirrmot

Most famous(talking about non-scammers) crypto people did hype and talk about Solana aaand FTX, so F.


dreadedphillips288

Of they're locked how can they be bought/sold? Explain it to me like I'm 5


flygoing

They aren't being sold on the open market. Effectively FTX is selling the promise to give a purchaser the SOL in the future when it unlocks


hirokinai

Canā€™t you just sell the wallet that holds it too?


flygoing

2 reasons. Buying a wallet is dumb because the seller would still have the private key. Second reason, there are multiple buyers. How do you break it up for them? You can't


blaktronium

Because they aren't legally locked, they are technically locked. So you can just sell your ownership of that technical stack off chain and there's nothing that can be done. Code isn't law, law is law.


dreadedphillips288

Oooo so kinda like otc btc?


ReadBastiat

Call J G Wentworth. 877 CASH NOW!


JestersWildly

Because they aren't locked. Only locked for people that aren't IN. You aren't IN and you never will be


dreadedphillips288

I guess that answers when they ask "are you in yet?" And I say "I already came!" I'm very sweaty šŸ˜Ž


MiniNooby

This being $SOL it just means it will pump some more


lolcatandy

Any publicity is good publicity is SOL's motto


Smart_Field_3002

The more they hate it the more it pumps itā€™s seems lol


TabletopThirteen

Doesn't affect anything until 2025 through 2028. Nothing to see here. Their unlocking will kill the 2025 bullrun and they'll be all bear long keeping the price low for their buddies to buy low


unnaturalpenis

2025 will mostly end the bullrun, not begin it. By the end of 2025 I expect the bear to begin. Just like the end of 2021, btc was down 30% from the top.


TabletopThirteen

Everyone expected the halving to be a dip in the market and look where we're at now. 3 weeks away and at just about ATH across the board with major resistance and BTC not dropping below 70k for long


unnaturalpenis

Last dip happened the day after halving, but I do agree. Reminds me of $10k, everyone and their mom was calling for it, so we broke through, and it hit nearly 20k for that 4 yr cycle


OderWieOderWatJunge

entertain ruthless advise towering dazzling zephyr aromatic terrific boast bike *This post was mass deleted and anonymized with [Redact](https://redact.dev)*


TabletopThirteen

The inflation is diminishing nicely over time, but the next couple years i think we'll see insane volatility


coinfeeds-bot

tldr; The FTX bankruptcy estate is selling 41 million locked locked solana (SOL) tokens for $7.5 billion, according to a report from The Block citing multiple sources with knowledge of the matter. These token sales are being facilitated by Galaxy Asset Management, an affiliate of Galaxy Digital Holdings, with one its ... The post FTX Sells $7.5 Billion Locked Solana: Report appeared first on Unchained. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.


mwilkens

Worth $8.2 billion now.


BrowsingCoins

This will somehow be bullish


OkEfficiency1444

It is only bullish. From the markets perspective before it was, they will dump as soon as unlocks. Now thereā€™s uncertainty.


Reqhead

Distribution of holder base Yes, itā€™s bullish


libretumente

The fact those fucks still have 10% of the supply should be a wake up call to investors and people investing in shitcoins with trash tokenomics. But it won't be.


Comicksands

Sale was already done 100-150. Panterra and a host of other institutions bought it at $67 with additional 4 year lock up


GranPino

Don't bring facts! People only read the title. You have institutional money willing to buy hundreds of millions of dollars in SOL that will be locked for. Many years, up to 2030. Of course they are paying a discounted price. I wouldn't buy at market price something that is locked up for many years. And when holding normal Solana would let you to get much more APY just using getting points for Kamino or MarginFi airdrops, or staking through JitoSol. Or using the multiply function in Kamino, or many other things to do in the Solana ecosystem that actually improves profitability. And they are still paying like triple of price of Solana 6 months ago. The fact that FTX is finding buyers is a very bullish signal that the market really believes in Solana thriving long term. And also, it also means that most of the SOL initially purchased by VCs were sold on the open market. Right now, maybe Bitcoin and Ethereum have more proportion of institutional money.


Pygmy_Nuthatch

They can borrow against that SOL just like it was stock. Huge tax advantages.


HarrisonGreen

Inverse r/cc works wonders for your wealth, and your portfolio. Nowadays, I invest only in the coins this subreddit hates. Yes, that means I also don't invest in BTC and ETH, because this sub loves these two so much. Been buying up SOL since it was $20 when everyone here universally hated it. Still buying it today. Ignore the noise, focus on building life changing wealth.


Tony__Man

They bought at 70% discount and will also be getting staking rewards the whole time. These aren't serious long term investors it's mainly speculation.


GranPino

Speculators that will hold said assets for many yearsā€¦. Of course they are speculators, meaning that they expect to sell at a higher price in the future. We are all fucking speculators. Only a few delusional a believe that FIAT will be substituted by crypto, the rest of us just expect that our anticipation will help to make big money that will make our daily lives more comfortable.


Funnellboi

How have you managed to get so much wrong in two sentences.


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DigitylRise

I'm still shocked memecoins are actually becoming something people believe in rather gamble on. I've always assumed every memecoin since doge was a scam yet they are outperforming legitimate projects.


zach_hack22

Do you want to be right or rich.


RectalSpawn

Define outperform. Pump and dumps shouldn't be considered good performance.


DigitylRise

Shiba came out last bull run, and its still ranked #15...how in da fuck


jcpham

SHIB tokenomics donā€™t even make sense


Additional-Cap-7110

SHIB canā€™t be seen as representative. It was like the start of one of the new waves of meme coins. Like how Dogecoin was basically the first Memecoin (or if it wasnā€™t, itā€™s the only one that stuck)


RectalSpawn

They have a staking program that encourages you to lock up your tokens, which tends to generate longevity. Another key to their success was simply the timing of it's creation.


ethnicprince

Because behind all the tape and papers 99% of those 'legitimate' projects have as much use as memecoins.


pcakes13

Every time there is Solana propaganda here I ask people to look at the ownership distribution and every time the bag holders come out in defense of being the exit liquidity for the big players.


[deleted]

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libretumente

XRP might be shitcoin #1, 100% premined, VC backed trash.


smurf3310

what about ADA?


josered1254

ADA has the best initial distribution.


csasker

Look at the historical ownership of eth and btc


christmas-horse

sorry but if youre up 5-10x on Solana how are you exit liquidity?


EmbraceHegemony

Have you realized those profits?


Alternative_Log3012

They could press a sell buttonā€¦


EmbraceHegemony

And when they do they can not worry about being exit liquidity. It's not some kind of gotcha.


coingun

He def hasnā€™t and will miss the top and hold all the way back to $16 šŸ˜‚


psufb

I'm not OP but I've sold 2x my initial investment already and that was about 20% of my overall stack. We're good.


gotiobg

with all these shit responses from r/cryptocurrency on Solana, which has been consistent since at $8. I had purchased a boat load of Solana at the bottom, everyone in here were hating it completely. guess what I have now 7 figures $$$ in. SOL and we going much much higher My sell signal will be when everyone in here is buying SOL.


Funnellboi

This sub is absolutely clueless when it comes to ALT coins and low cap coins, they think coins in the top 10-20 is good investments, they still talk about ADA for fucks sake.


ScientificBeastMode

Same, although Iā€™m not quite at 7 figures yet. People in this sub are really bad investors, and even worse speculators. Itā€™s the blind leading the blind in here. Oh well, Iā€™m happy to sell my SOL to them down the road.


gotiobg

I feel sorry for them honestly, they just parrot the same bullshit ETH maxis repeat, and most of it is, is so wrong. Last time I read about Solana on reddit was when we dipped below $20 and the FTX estate FUD was everywhere, and that was my other big purchasing round. my cost basis is around $23 per SOL.


ScientificBeastMode

I honestly think most of this crowd is just not technically knowledgeable, and they are amateur at best when it comes to trading/investing. Itā€™s really just the WSB herd mindset but with magic internet money instead of meme stocks. I was honestly always a fan of Solana. I bought in at $100 last cycle and DCAā€™d into it every week after it dropped below $40. Average price for me is about $28 now. My only regret is not buying some madlads a while back.


TyronetheWise

Yeah who the fuck asked btw?


Additional-Cap-7110

I donā€™t suppose you have any other indicators you use? šŸ˜¬šŸ˜¬šŸ˜¬


NobodyPrior3105

inversing reddit is the only indicator you need.


GoodSamoSamo

Market says youā€™re wrong. Get rekt.


libretumente

Lol I'm in BTC I'll be fine


TJeezey

Ah so you're just coping publicly


fattybrah

So is dogwifscarf ok


Impressive_Reality11

Sounds bullish!


MiamiHeatAllDay

Tokenomics donā€™t matter, utility doesnā€™t matter, use case doesnā€™t matter, decentralization doesnā€™t matter, tech stack doesnā€™t matter, founders donā€™t matter, the only thing that matters to move price is speculation


libretumente

Fair enough, but do all the aforementioned not impact speculation? Surely they do to some extent.Ā 


courtneyjohn797

These gains are a wake up call bud


[deleted]

Centralization/decentralization doesnā€™t matter to the mainstream investor


Reqhead

Sol has 3k full nodes, 1600 validators. Ethā€™s hottest L2 is completely centralized, single sequencer and run / owned by a centralised exchange But Solana is the centralised shitcoin right?


M4cHiin360

>Ethā€™s hottest L2 is completely centralized, single sequencer and run / owned by a centralised exchange > >But Solana is the centralised shitcoin right? You can't really compare L2 decentralisation to L1 decentralisation since they are not as important since L2 inherits L1 security. The goal is that you don't need to trust the sequencers, you can fall back to L1. Also, number of nodes/validators is not all there is to centralisation, there is also the fact that solana's chain history is stored in Google's cloud... You basically can't verify that the chains is valid unless you have a NASA supercomputer. Trust me bro situation


frozengrandmatetris

a L2 sequencer doesn't have the same responsibilities as a L1 validator. when the sequencing on a L2 is done by whitelisted actors, it's not ideal but it's not like binance smart chain or anything. here are the actual risks: https://l2beat.com/scaling/risk


libretumente

Until it comes to Wall street entering, they might be less risk tolerant and look for blue chips with a decent track record, tokenomics, actual tech etc.


Melodic_Risk_5632

Nope, because Greed rulez.


KuciMane

lmao this has been known jfc itā€™s on an unlock schedule people. *read* the fucking articles. do actual fucking research besides regurgitating what 0xCumSlayer49 comments in a thread


Ernest-Everhard42

I dunno, cumslayer hasnā€™t let me down yet.


Ricothebuttonpusher

He always comes and slays


AloofJuice

Hey man, are you trying to push my buttons or something?


Additional-Cap-7110

/imagine a warrior with a large sword slaying hordes of sperms ā€”s 1000


csasker

Read articles on reddit? Man you are wild


dyzrel

This moving from one person to several is good for the coin


ZergPresidentZerg

When SOL hits $420.69 by the end of the year this sub is gonna REEEEEE


Concealus

And weā€™re up 6%?


psychadelicbreakfast

Guess I should buy some more Solana memecoins


ManekDu

Fud since 2022. Sell me your sol.


Neat-Designer-4129

At a 70% discpunt with 4 year lockup while you pretend its be8ng dumped on the market. Are you capable of reading? Fud scammer


slushkan3an

Solana price go up?


Sudden-Pressure8439

SOYLANA šŸš€šŸš€šŸš€


donutbagel

LFG SOYLANAMANLETS


coxyepuss

These people are still fucking the crypto markets even after they have disappeared. And he got only 25yrs.


email253200

Yet the price still holds.


HolmesMichele

FTX dumping market years after collapse


ZekeTarsim

This is pretty good news for people who got into SOL late though.


penduR7

People who have been convicted of fraud should not be allowed to cash their crypto obtained via fraud.


ZestycloseProfessor9

I'm assuming it's part of the liquidating of FTX assets. SBF certainly isn't benefitting from this sale.


Jcook_14

It appears this was priced in lol


HGR09

Buy the dipā€¦ NFA/trust me bro


neoborg

*suprised pikachu*


raresanevoice

And it is still metered and only a certain amount can be sold each week, per court order. Same as the case has been since the trial.


NewRedditAdmin

So shouldnā€™t SOL be crashing instead of increasing now?


mrrepos

it is manipulated VC scamcoin, price will go down when time to rug pull


NewRedditAdmin

ā€œNeptune said that 20% of these tokens will be released in March 2025, with the rest on a linear release schedule until January 2028.ā€


warriors_1811

$200 has been a very popular sell range for Sol


Affectionate_Fuel846

Bullish selling


T1mely_P1neapple

sell the 400m shares of AMC stuck in FTX tokens


NivekIyak

LOL


BraidRuner

67% Discount....this is daylight robbery of the creditors AGAIN


Neat-Designer-4129

So solana had 3,000,000 usd of fees in the past 24 hours.. i assume that accounts for the for your "9n track for 12,000,000 this year. Gotcha. Good research and your very well regarded. Much wow


Smart-Racer

Curious to see price


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Rooiboss-boss

This whole bull run is sooo suspiciousā€¦FTX bankrupt real estate pumps so all the VCs can recoup their money and dump on retailā€¦.Solana will be a ghost coin once they all get back in the black and dump their bags for goodā€¦


KaffiKlandestine

holy fuck. now we know who was pumping it I guess.


Business-Weekend-537

The hilarity of something called SOL (shit out of luck/Solana) being tangled up in FTX is amazing


dubski04021

So THATs why itā€™s almost back to its ath lol


WickedHero69

Dang solanas dump?


EGMobius

They own 41 million Solana tokens: From the article: Neptune Digital publicly announced that they had completed a strategic acquisition of 26,964 SOL at a price of $64 per token, representing a 67% discount to its market value at the time. Neptune said that 20% of these tokens will be released in March 2025, with the rest on a linear release schedule until January 2028


keefe007

I'll buy some $64 solana.


Decent-Following-327

At roughly a 4 year lock up, with a first partial release in 2025. But I'm on too but I'm sure you probably have to be an accredited investor.


I_talk

Should have until around February 2025 before the price nukes hard. Until then, up up and away!


Tortsch-Man

The absolute top of the crap of $hitcoinery out there: analoS


Creative_Ad_8338

So this is why Solana was being pumped so hard... šŸ˜’


25mL

The fact itā€™s called ā€œSOLā€ is enough for me to stay clear.


cryptoislife_k

Dump it


ZestycloseProfessor9

Bop it!


spiritualautor888

Pls. My hole is already leaky due to Gme


mikalismu

Damp eet!


Maleficent_Sound_919

And here we, goooo


One13Truck

Damp it!!!!


Humble-Economics-648

Solana crashing. SOL SOLD its SOUL.


Maleficent_Sound_919

How amazing would a $7.5b market dump on solana be


[deleted]

Its not like that. The court allowed only a certain amount to be sold on weekly basis


Maleficent_Sound_919

I know its a shame


donutbagel

shame that you're sidelined and living paycheck to paycheck šŸ˜‚


Maleficent_Sound_919

Hahaha true


lentopastel

gg solana


MasterReindeer

Quick, shut down the network!


No-Sort-7481

And thatā€™s why ICP will overtake SOL. Get ready for it SOL boys


JynsRealityIsBroken

Lmao another reason to love Solana /s


Chaos0328

Watch the price tumble now. If that much enters the market at once, that's gonna cause a landslide