FTX is proceeding with the sale of approximately 41 million locked Solana tokens, with a fourth batch set for auction on May 9th. The tokens will be unlocked over four years, following a staking rewards entitlement program. The first sale in March fetched $64 per token, totaling $1.7 billion in transactions, while a recent auction sold 1.8 million Solana for $232 million.

The auction saw bids ranging from $85 to $110, with bids over $95 accepted, despite Solana's price being around $150 at the time. Galaxy Trading and Pantera were among the bidders in the first sale, while Galaxy Asset Management and FTX Estate manage the sale process.

FTX has also published a draft of its bankruptcy plan under Chapter 11, aiming to meet at least 118% of the allowed claims of 98% of its creditors. The sale of the locked Solana tokens is part of FTX's efforts to settle its debts and restructure under bankruptcy protection.