The bankrupt cryptocurrency exchange FTX has completed the sale of discounted Solana tokens totaling $2.6 billion. Notable buyers, including Figure Markets and Pantera Capital, acquired the remaining SOL tokens from FTX through auctions spanning several weeks.

The auction results were revealed by two undisclosed sources to Bloomberg, with Figure reportedly purchasing a bundle of 800,000 coins for approximately $80 million. It's mentioned that Figure paid around $102 per token, a substantial discount compared to Solana's current market price of approximately $166. Mike Cagney, the CEO and co-founder of Figure, had previously announced the establishment of a Special Purpose Vehicle (SPV) to enable both US and non-US investors to participate in the auctions.

Pantera Capital also reportedly participated in the auction, although the exact amount paid by the venture capital fund remains undisclosed.

The sale of Solana tokens has sparked controversy within FTX's bankruptcy proceedings, a company once led by convicted fraudster Sam Bankman-Fried, also known as SBF.

In March, Pantera sought to raise $250 million from investors to purchase Solana tokens from FTX, and the following month, it successfully acquired a batch of discounted Solana tokens as a winning bidder. Other major crypto firms, such as Neptune Digital Assets Corp and Galaxy Trading, have also expressed interest in acquiring portions of the Solana tokens sold off directly by FTX since the start of the bankruptcy proceedings.

Numerous crypto users lost significant sums of money in the collapse of FTX, although the crypto market subsequently rebounded from the crash in 2022, with Bitcoin reaching new all-time highs. Estimates suggest that assets entrusted to FTX, if not locked up in bankruptcy, would have grown to at least $4 million. FTX claims it can gather sufficient funds to repay creditors 100% of what they are owed, along with interest. However, instead of receiving their crypto assets, creditors will be compensated in US dollars based on their account values at FTX's collapse in November 2022, missing out on significant gains from the recent crypto bull run.