The saga of the fallen FTX crypto exchange continues, with a new chapter unfolding around its trove of locked Solana tokens. As revealed by Figure CEO Mike Cagney on X, the FTX estate is gearing up to auction off another batch of these coveted coins, sending shivers of anticipation – and discontent – through the crypto landscape.

The locked Solana stash has become a hot potato, thanks to the meteoric rise of SOL prices this year. Understandably, prospective buyers are chomping at the bit for a chance to snag these tokens at a potential discount. However, details about the upcoming auction remain shrouded in secrecy, with Cagney only hinting at their release sometime this week.

Meanwhile, a simmering resentment among FTX creditors threatens to boil over. Despite the expertise of court-appointed attorney John Ray III, some creditors feel they're getting a raw deal. Sunil Kavuri, a vocal advocate for FTX victims, has publicly slammed law firm Sullivan and Cromwell (S&C), accusing them of prioritizing the interests of FTX's former clients like Galaxy Digital.

"S&C is stubbornly pushing to sell locked Solana to Galaxy at a significant discount, completely disregarding our objections," Kavuri wrote on X. This move stings even more considering the recent sale of over $2.6 billion worth of discounted Solana tokens to major crypto players, including the aforementioned Galaxy Digital.

Critics, like Kavuri, point to a potential conflict of interest. They allege mismanagement by S&C, given their previous role as advisors to Galaxy Digital. While Kavuri acknowledges that Cagney has proposed a "structure" allowing retail FTX creditors to participate in the auction with a $5,000 minimum investment, it still feels like a bitter pill to swallow.

"These are our assets, not theirs to sell off," Kavuri declared, emphasizing that legal action is underway to recoup any losses caused by S&C's alleged mishandling of FTX's estate.

Adding another layer of intrigue to the story, news broke of a settlement agreement between FTX founder Sam Bankman-Fried and lawyers representing victims involved in a class action lawsuit. This "big win" for FTX victims, as Kavuri described it, will see Bankman-Fried divulge information on prominent figures associated with FTX, including celebrities like Shaquille O'Neal, Kevin O'Leary, and Tom Brady.

"The lack of transparency from John Ray and the FTX debtors has significantly hampered our legal efforts," Kavuri lamented, further implicating S&C in these alleged roadblocks.

With Solana prices hovering around $153.33 at the time of writing, representing a staggering 601.5% growth so far this year, the stakes for the upcoming auction couldn't be higher. While the FTX estate eyes a potential windfall, creditors remain vocal about their concerns, demanding fairness and transparency in the wake of the exchange's dramatic collapse. The battle for control of these locked Solana tokens is far from over, and the crypto world waits with bated breath to see how this complex saga unfolds.