在這波 Solana 強勢走勢中，曾經宣告破產的加密貨幣交易所 FTX 意外成為了最大的贏家之一，共賺進至少 30 億鎂。然而，這波收益可能跟全球的債權人毫無關係。
（前情提要： 美國稅局追稅FTX 240億鎂》法官建議「降低金額」、明年初將開聽證會決定）
（背景補充： FTT衝高6美元創「破產後新高」！FTX已拋售5.9億資產）
自10 月中旬以來，公鏈 Solana（SOL）的價格表現出色，呈現顯著增長。今（22）日，Solana 的價格甚至一度接近 100 美元大關，其市值更超過了BNB。在這波行情中，曾經宣告破產的加密貨幣交易所 FTX 意外成為了最大贏家之一。
Solana是FTX和Alameda最大的持股
據 Coingecko 數據，FTX 及其姊妹公司 Alameda Research 在去年 11 月宣布破產時，估計持有的加密貨幣資產中，以 Solana（SOL）的數量佔比最大宗，這些 SOL 資產合計達到 5,580 萬枚，當時市值高達 11.6 億美元，緊隨其後的是 BTC 和 ETH。
![[{"type": "paragraph", "children": [{"text": "SOL 價格在過去 7 天內上漲了 30% 左右，並翻轉了 BNB 的市值。"}]}, {"type ": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "但是，FTX 和Alameda 仍然是主要的SOL他們會在最近的飆升中繼續拋售，從而影響市場動態嗎？讓我們回顧一下下面的一些統計數據。"}]}, {"type": "paragraph", "children": [{"text": ""}]} , {"type": "paragraph", "children": [{"text": "1. 據估計，FTX 和Alameda 在破產時持有55.8M SOL（當時為$1.16B）", "bold ": true}, {"text": " "}, {"type": "link", "url": "https://www.coingecko.com/research/publications/ftx-crypto-holdings" , "兒童": [{"text": "CoinGecko", "color": "#2F54EB"}]}, {"text": ":"}]}, {"type": "bulleted-list", "children ": [{"type": "list-item", "children": [{"text": "SOL 是他們最大的持有量，其次是BTC 和ETH。"}]}]}, { "type": "段落", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain. com/74559_7609c2cf46.png ", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "圖1. Solana 是FTX 和Alameda 最大的控股公司。" }]}, {"type": "段落", "children": [{"text": ""}]}, {"type": "段落", "children": [ {"text": "2 。 FTX 的 SOL 總持有量 (1530 萬 SOL) 中僅 27% 已解鎖，其中 1322 萬 SOL (6.66 億美元) 可能已售出：", "bold": true}]}, {"type": " Bulleted-list", "children": [{"type": "list-item", "children": [{"text": "FTX 和Alameda 從2 個公共SOL 位址存入699 萬SOL（ 2.8 億美元） 2023年10月24日至11月14日期間。"}]}, {"type": "list-item", "children": [{"text": "另一個FTX相關地址\ "4Axqyo\"也解押並轉移過去一個月，623 萬SOL（3.86 億美元）用於解決“3vxheE”（可能是Coinbase）。"}]}, {"type": "list-item", " children": [{"text": "這表示可能還有 208 萬個 SOL（2.06 億美元）可供立即交易。"}]}, {"type": "list-item", "children": [{"text": "FTX 冷儲存 1: "}, {"type": "link", "url": "https://solscan.io/account/6b4aypBhH337qSzzkbeoHWzTLt4DjG2aG8GkrrTQJfQAq ", "children": [{"text": "6b4aypBhH337qSzzkbeoHWzTLt4DjG2aG8GkrrTQJfQA", "color": "#2F54EB"}]}, {"text": ""}]}, {"type": "list-item", "children": [{"text": "FTX 冷儲存2:"}, {"type": "link", "url": "https://solscan.io/account/9uyDy9VDBw4K7xoSkhmCAm8NAFCwu4pkF6JeHUCtVKcX", "children" [{"text": "9uyDy9VDBw4K7xoSkhmCAm8NAFCwu4pkF6JeHUCtVKcX", "color": "#2F54EB"}]}, {"text": ""}]}, {"type": "list-item"}]}, {"text": ""}]}, {"type": "list-item"}]}, {"text": ""}]}, {"type": "list-item"}]}」: [{ "text": "其他地址："}, {"type": "link", "url": "https://solscan.io/account/4Axqyo8xa524h4A3PqcKYDg53Q8y1UH7fMFe3RHswTAh#solTransfers", "children": [{textren" "4Axqyo8xa524h4A3PqcKYDg53Q8y1UH7fMFe3RHswTAh", "color": "#2F54EB"}]}, {"text": ""}]}]}, {"type": "段落", "url": "https://soc-app -assets.spotonchain.com/74560_11bbbd62b1.png", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app- assets.spotonchain.com/74560_11bbbd62b1.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "圖2.從FTX 冷儲存1 和2 移出的SOL 數量。"}]}, {"type": "paragraph", "url": "https://soc-app-assets.spotonchain.com/74561_8b30735b2b.png ", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain.com/74561_8b30735b2b.png" , " children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "圖3. FTX 據稱進一步移出了623 萬個SOL（386美元） M) 透過地址\"4Axqyo\"."}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph" , "孩子們」：[{“文本”：“3。 FTX SOL 總持有量的剩餘 73%（4050 萬 SOL，現價值 $3.99B）仍處於鎖定狀態，並將在以下歸屬時間表中釋放：", "bold": true}]}, {"type " : "項目符號清單", "子項": [{"類型": "清單項目", "子項": [{"文字": 「每月解鎖約 609K SOL（6000 萬美元），約佔 FTX SOL 總持有量的 1%。」}]}, {"type": "list-item", "children": [{"text" : "將於2025年3月1日全額解鎖750萬枚SOL，佔FTX SOL持有總量的13.5%。"}]}, {"type": "list-item", "children": [ {" text": "將於 2025 年 5 月 17 日解鎖全額 61.8K SOL。"}]}, {"type": "list-item", "children": [{"text": "基於根據兌現時間表，FTX 和Alameda 的SOL 拋售在不久的將來不太可能對市場產生嚴重影響。"}]}]}, {"type": "paragraph", "url": "https://soc - app-assets.spotonchain.com/74562_8d3ff9a667.png", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc- app -assets.spotonchain.com/74562_8d3ff9a667.png", "children": [{"text": ""}]}, {"type": "段落", "children": [{"text": "圖4 . FTX SOL 解鎖時間表"}, {"type": "link", "url": "https://www.coingecko.com/research/publications/ftx-crypto-holdings#ftx-s-sol-解鎖時間表", "children": [{"text": "CoinGecko", "color": "#2F54EB"}]}, {"text": "."}]}, {"type": "段落" , "children": [{"text": ""}]}, {"type": "段落", "children": [{"text": "4. 自2022 年11 月11 日FTX 破產以來，SOL 價格上漲了461%，從17.66 美元上漲至目前的99.03 美元：", "bold": true}]}, {"type": "bulleted-list", "children" : [{"type": "list-item", "children": [{"text": "這意味著FTX 債務人可能會從SOL 中獲得超過3B 美元以上的收益。"}]}] }, {"type" ：“段落”，“url”：“https://soc-app-assets.spotonchain.com/74563_e14089bc23.png”，“children”：[{“text”：“”}]} ，{“type”： “圖像”，“網址”：“https://soc-app-assets.spotonchain.com/74563_e14089bc23.png”，“孩子”：[{“文本”：“”}]}， {「類型」：「 paragraph", "children": [{"text": "圖5. SOL價格在過去一年大幅上漲。"}]}] com/74562_8d3ff9a667.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "圖4. FTX 的SOL 解鎖時間表通過“}，{“type”：“link”，“url”：“https://www.coingecko.com/research/publications/ftx-crypto-holdings#ftx-s-sol-unlock-schedule” ，「 Children": [{"text": "CoinGecko", "color": "#2F54EB"}]}, {"text": "."}]}, {"type": "paragraph", "children ": [{"text": ""}]}, {"type": "段落", "children": [{"text": "4. 自2022 年11 月11 日FTX 破產以來，SOL 價格上漲了461%，從17.66 美元上漲至目前的99.03 美元：", "bold": true}]}, {"type": "bulleted-list", "children" : [{"type": "list-item", "children": [{"text": "這意味著FTX 債務人可能會從SOL 中獲得超過3B 美元以上的收益。"}]}] }, {"type" ：“段落”，“url”：“https://soc-app-assets.spotonchain.com/74563_e14089bc23.png”，“children”：[{“text”：“”}]} ，{“type”： “圖像”，“網址”：“https://soc-app-assets.spotonchain.com/74563_e14089bc23.png”，“孩子”：[{“文本”：“”}]}， {「類型」：「 paragraph", "children": [{"text": "圖5. SOL價格在過去一年大幅上漲。"}]}] com/74562_8d3ff9a667.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "圖4. FTX 的SOL 解鎖時間表通過“}，{“type”：“link”，“url”：“https://www.coingecko.com/research/publications/ftx-crypto-holdings#ftx-s-sol-unlock-schedule” ，「 Children": [{"text": "CoinGecko", "color": "#2F54EB"}]}, {"text": "."}]}, {"type": "paragraph", "children ": [{"text": ""}]}, {"type": "段落", "children": [{"text": "4. 自2022 年11 月11 日FTX 破產以來，SOL 價格上漲了461%，從17.66 美元上漲至目前的99.03 美元：", "bold": true}]}, {"type": "bulleted-list", "children" : [{"type": "list-item", "children": [{"text": "這意味著FTX 債務人可能會從SOL 中獲得超過3B 美元以上的收益。"}]}] }, {"type" ：“段落”，“url”：“https://soc-app-assets.spotonchain.com/74563_e14089bc23.png”，“children”：[{“text”：“”}]} ，{“type”： “圖像”，“網址”：“https://soc-app-assets.spotonchain.com/74563_e14089bc23.png”，“孩子”：[{“文本”：“”}]}， {「類型」：「 paragraph", "children": [{"text": "圖5. SOL價格在過去一年大幅上漲。"}]}]](https://soc-app-assets.spotonchain.com/74559_7609c2cf46.png)
另一方面，據 Spot on chain 數據顯示，FTX 與 Alameda Research 在其所有持倉的 Solana 中，已經有 27% 的數量已解鎖，總計約 1,530 萬枚，並且在這些解鎖的 SOL 中，有 1,322 萬枚（價值約6.66億美元）可能已經被售出。具體細節如下：
- 2023 年 10 月 24 日至 11 月 14 日期間，FTX 和 Alameda 從 2 個 SOL 地址將 699 萬枚 SOL（2.8 億美元）存入交易所。
- 另一個與 FTX 相關的地址「4Axqyo」在過去一個月也取消了質押，並將 623 萬枚 SOL（3.86 億美元）轉移到地址「3vxheE」（可能是 Coinbase）。
- 這意味著可能還有 208 萬枚 SOL（2.06 億美元）可以立即拋售。
- FTX 冷錢包地址：6b4aypBhH337qSzzkbeoHWzTLt4DjG2aG8GkrrTQJfQA
- FTX 冷錢包地址：9uyDy9VDBw4K7xoSkhmCAm8NAFCwu4pkF6JeHUCtVKcX
- 其他地址：4Axqyo8xa524h4A3PqcKYDg53Q8y1UH7fMFe3RHswTAh
破產後靠SOL爆賺30億鎂
值得關注的是，FTX 及 Alameda Research 目前仍有大量 Solana（SOL）持倉處於鎖定狀態。具體來說，佔比他們總持有量的 73%，約 4,050 萬枚SOL（目前市值約39.9億美元），未來將根據特定的時間表逐步解鎖。
- 月度解鎖： 預計每個月將解鎖大約 60.9 萬枚 SOL，這相當於 FTX 和 Alameda 總持有量的大約1%，每月解鎖的市值約為 6000 萬美元。
- 2025年重要解鎖： 根據計劃，在 2025 年 3 月 1 日，將一次性解鎖約 750 萬枚SOL，佔 FTX 和 Alameda總持有量的 13.5%。此外，在 2025 年 5 月 17 日，將全額解鎖 6.18 萬枚SOL。
![[{"type": "paragraph", "children": [{"text": "The SOL price has risen by around 30% in the past 7 days and flips BNB in market capitalization."}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "However, FTX and Alameda remain major SOL holders. Will they continue selling amidst the recent surge, impacting market dynamics? Let's review some statistics below."}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "1. FTX and Alameda were estimated to hold 55.8M SOL (then $1.16B) at the time of bankruptcy, according to", "bold": true}, {"text": " "}, {"type": "link", "url": "https://www.coingecko.com/research/publications/ftx-crypto-holdings", "children": [{"text": "CoinGecko", "color": "#2F54EB"}]}, {"text": ":"}]}, {"type": "bulleted-list", "children": [{"type": "list-item", "children": [{"text": "SOL is their largest holding, followed by BTC and ETH."}]}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain.com/74559_7609c2cf46.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "Fig 1. Solana is FTX and Alameda's largest holding."}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "2. Only 27% of FTX\u2019s total SOL holdings (15.3M SOL) have been unlocked, of which 13.22M SOL ($666M) might have been sold:", "bold": true}]}, {"type": "bulleted-list", "children": [{"type": "list-item", "children": [{"text": "FTX and Alameda deposited 6.99M SOL ($280M) from 2 public SOL addresses to exchanges between October 24 and November 14, 2023."}]}, {"type": "list-item", "children": [{"text": "Another FTX-related address \"4Axqyo\" also unstaked and transferred 6.23M SOL ($386M) to address \"3vxheE\" (likely Coinbase) in the past month."}]}, {"type": "list-item", "children": [{"text": "This implies that there may be 2.08M SOL ($206M) left available for immediate trade."}]}, {"type": "list-item", "children": [{"text": "FTX Cold Storage 1: "}, {"type": "link", "url": "https://solscan.io/account/6b4aypBhH337qSzzkbeoHWzTLt4DjG2aG8GkrrTQJfQA", "children": [{"text": "6b4aypBhH337qSzzkbeoHWzTLt4DjG2aG8GkrrTQJfQA", "color": "#2F54EB"}]}, {"text": ""}]}, {"type": "list-item", "children": [{"text": "FTX Cold Storage 2: "}, {"type": "link", "url": "https://solscan.io/account/9uyDy9VDBw4K7xoSkhmCAm8NAFCwu4pkF6JeHUCtVKcX", "children": [{"text": "9uyDy9VDBw4K7xoSkhmCAm8NAFCwu4pkF6JeHUCtVKcX", "color": "#2F54EB"}]}, {"text": ""}]}, {"type": "list-item", "children": [{"text": "other address: "}, {"type": "link", "url": "https://solscan.io/account/4Axqyo8xa524h4A3PqcKYDg53Q8y1UH7fMFe3RHswTAh#solTransfers", "children": [{"text": "4Axqyo8xa524h4A3PqcKYDg53Q8y1UH7fMFe3RHswTAh", "color": "#2F54EB"}]}, {"text": ""}]}]}, {"type": "paragraph", "url": "https://soc-app-assets.spotonchain.com/74560_11bbbd62b1.png", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain.com/74560_11bbbd62b1.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "Fig 2. The amount of SOL moved out of FTX's Cold Storage 1 and 2."}]}, {"type": "paragraph", "url": "https://soc-app-assets.spotonchain.com/74561_8b30735b2b.png", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain.com/74561_8b30735b2b.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "Fig 3. FTX allegedly further moved out 6.23M SOL ($386M) via address \"4Axqyo\"."}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "3. The remaining 73% of FTX\u2019s total SOL holdings (40.5M SOL, now valued at $3.99B) are still locked up and will be released in the following vesting schedule:", "bold": true}]}, {"type": "bulleted-list", "children": [{"type": "list-item", "children": [{"text": "Around 609K SOL ($60M) are unlocked each month, representing around 1% of FTX\u2019s total SOL holdings."}]}, {"type": "list-item", "children": [{"text": "A full amount of 7.5M SOL will be unlocked on March 1, 2025, representing 13.5% of FTX's total SOL holdings."}]}, {"type": "list-item", "children": [{"text": "A full amount of 61.8K SOL will be unlocked on May 17, 2025."}]}, {"type": "list-item", "children": [{"text": "Based on the vesting schedule, it is unlikely that FTX and Alameda's SOL sell-off in the near future can heavily impact the market."}]}]}, {"type": "paragraph", "url": "https://soc-app-assets.spotonchain.com/74562_8d3ff9a667.png", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain.com/74562_8d3ff9a667.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "Fig 4. FTX's SOL unlock schedule by "}, {"type": "link", "url": "https://www.coingecko.com/research/publications/ftx-crypto-holdings#ftx-s-sol-unlock-schedule", "children": [{"text": "CoinGecko", "color": "#2F54EB"}]}, {"text": "."}]}, {"type": "paragraph", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "4. The SOL price pumped 461% since FTX's bankruptcy on November 11, 2022, having risen from $17.66 to $99.03 as of now:", "bold": true}]}, {"type": "bulleted-list", "children": [{"type": "list-item", "children": [{"text": "This implies that FTX debtors may gain more than $3B more from SOL."}]}]}, {"type": "paragraph", "url": "https://soc-app-assets.spotonchain.com/74563_e14089bc23.png", "children": [{"text": ""}]}, {"type": "image", "url": "https://soc-app-assets.spotonchain.com/74563_e14089bc23.png", "children": [{"text": ""}]}, {"type": "paragraph", "children": [{"text": "Fig 5. The SOL price has risen sharply in the past year."}]}]](https://soc-app-assets.spotonchain.com/74562_8d3ff9a667.png)
實際上自 2022 年 11 月 11 日 FTX 宣布破產以來，Solana（SOL）的價格出現了顯著的上漲。從原先的 13.5 美元飆升至截稿前的 94.03 美元，實現了 596% 的漲幅，這意味著 FTX 可能已經從持有的 SOL 中獲得超過 30 億美元的收益。
30億鎂不關債權人的事？
雖然 FTX 重新獲得了近 30億鎂，但實際上債務人於 12 月 16 日已向美國特拉華州破產法院提交了一份修訂版的第 11 章重組計劃，新的計劃中，面對客戶資產索賠，FTX 債務人將價值設定回溯至 2022 年 11 月 FTX 申請破產時的「現金價值」來估算，換句話說，是以當時的美元計價，且賠付美元（可能是美元穩定幣）。
破產當下，比特幣價格在破產申請期間的價格約為 17,000 美元，但近期已攀升至 42,000 美元左右，以太坊價格也從 1,000 美元左右上升至 2,200 美元，加密貨幣整體市值也從約 8,560 億美元新增至如今的 1.6 兆美元，因此假如這項計畫獲得批准，債權人將面臨「倒閉時凍結價格」的巨大潛在損失。
