Cointelegraph reported that digital assets worth $5.5 billion were detected by the new board of the notorious FTX crypto exchange whose crash played havoc with the crypto industry in 2022. The executives suppose the tokens could be used to settle the debt with lenders. However, experts are worried about an excessive bubble that might emerge in the crypto market and new assets which will hardly gain popularity might pop up.
On January 17, crypto assets worth $3.5 billion were injected into the market. $1.6 billion of them were released because the crypto platform owned by Sam Bankman-Fried went bankrupt.
Importantly, at the time when FTX filed for bankruptcy, a few FTT tokens to the amount of $529 million as well as Solana tokens worth $685 million were considered liquid. Experts recognize them as the only liquid tokens valid for exchange transactions. As for the rest of the assets, they were acknowledged to be non-liquid. However, they will slump in value in case of their sell-off.
The list of tokens outsiders includes 10 billion versions of BTC and ETH in Serum (SRM), LUNA, and Solana. Apart from them, there are also little-known coins such as TRUMPLOSE, BEAR, and MEDIA. Non-liquid assets are also represented by Alium Finance (ALM) to the tune of $2.4 billion and Bonfida (FIDA) worth $277 million. All of them are used on the Solana platform designed for developers of digital currencies. Besides, the platform also holds such unknown tokens as BRZ, GT, LIKE, HRXO, MSOL, JSOL, XSUSHI, AELPH, and JET.
TRUMPLOSE is a token created for political and economic forecasts. It was used during the presidential elections in the US. Nowadays, the crypto firm possesses almost 14 million such crypto tokens.
Interestingly, BEAR Coin is a crypto aimed to raise funds for the animal aid campaign. Such decentralized fundraising was carried out in cooperation with non-government organizations and individuals. FTX’s balance comprises 190 billion of these tokens.
