陷入困境的 FTX 以大幅折扣拋售 Solana 控股公司三分之二的股份

FTX 以每個代幣 64 美元的大幅折扣價格出售了其價值 26 億美元的 Solana 代幣中的約三分之二，為破產交易所的財產帶來了高達 19 億美元的收益。買家包括 Galaxy Trading 和 Pantera Capital，據報導 Galaxy Trading 籌集了 6.2 億美元資金用於購買代幣並向投資者收取 1% 的管理費。此次出售引起了 FTX 客戶的擔憂，他們認為折扣出售剝奪了他們可能有助於償還損失的潛在收益。

The beleaguered crypto exchange FTX, which filed for bankruptcy in November 2022, has offloaded roughly two-thirds of its Solana (SOL) holdings in a deeply discounted transaction. Sources privy to the matter informed Bloomberg that FTX's bankruptcy administrators orchestrated the sale, unloading SOL tokens at a price of $64 apiece. The sale netted approximately $1.9 billion for the estate, a substantial sum given the token's trading price of around $177 at the time of publication. However, it bears mentioning that SOL has experienced a decline of 6% over the past day.

陷入困境的加密貨幣交易所 FTX 於 2022 年 11 月申請破產，並以大幅折扣的方式出售了大約三分之二的 Solana (SOL) 股份。知情人士告訴彭博社，FTX 的破產管理人精心策劃了此次出售，以每枚 64 美元的價格出售 SOL 代幣。此次出售為該遺產淨賺了約 19 億美元，考慮到該代幣在發佈時的交易價格約為 177 美元，這是一個相當大的數字。然而，值得一提的是，SOL 在過去一天下跌了 6%。

"While this may be a lucrative deal for those acquiring SOL, I believe that creditors have been shortchanged," opined Louis d'Origny, an FTX customer and the founder of FTX Creditor, a platform for purchasing claims. "We should have been afforded the opportunity to gradually realize the proceeds rather than receiving them in a lump sum. The debtors evidently do not attribute significant value to crypto assets."

FTX 客戶、債權購買平台 FTX Creditor 的創始人 Louis d'Origny 表示：“雖然這對於收購 SOL 的人來說可能是一筆利潤豐厚的交易，但我認為債權人受到了欺騙。” “我們應該有機會逐步實現收益，而不是一次性收到收益。債務人顯然沒有賦予加密資產重大價值。”

Among the entities that participated in the transaction were Galaxy Trading, an affiliate of Mike Novogratz's Galaxy Digital, and Pantera Capital. Galaxy Trading reportedly amassed close to $620 million for a fund specifically established to acquire SOL from the FTX estate. The fund will charge investors a 1% management fee while providing them with staking yield.

參與此交易的實體包括 Mike Novogratz 旗下 Galaxy Digital 的附屬公司 Galaxy Trading 和 Pantera Capital。據報道，Galaxy Trading 為一隻專門為從 FTX 資產收購 SOL 而設立的基金籌集了近 6.2 億美元。該基金將向投資者收取1%的管理費，同時為他們提供質押收益。

Last August, FTX retained the services of Galaxy Asset Management, another Galaxy Digital entity, to spearhead the sale of the estate's vast cryptocurrency holdings. Additionally, Bloomberg reported last month that asset manager Pantera had raised funds to purchase up to $250 million worth of SOL from the estate. Vancouver-based software firm Neptune Digital Assets announced its acquisition of SOL worth $1.7 million last week.

去年 8 月，FTX 保留了 Galaxy Digital 另一家實體 Galaxy Asset Management 的服務，以帶頭出售該資產的大量加密貨幣資產。此外，彭博社上個月報道稱，資產管理公司 Pantera 已籌集資金從該房地產購買價值高達 2.5 億美元的 SOL。總部位於溫哥華的軟體公司 Neptune Digital Assets 上週宣布以 170 萬美元的價格收購 SOL。

In January, Judge John Dorsey, who is presiding over the case, ruled that each claim should be valued based on the amount owed to the creditor on the day FTX filed for bankruptcy. However, it is noteworthy that on November 11, 2022, SOL was trading at $16, which is approximately 9% of its current market price.

一月份，主審此案的法官 John Dorsey 裁定，每項索賠應根據 FTX 申請破產之日欠債權人的金額進行估值。然而值得注意的是，2022 年 11 月 11 日，SOL 的交易價格為 16 美元，約為當前市場價格的 9%。

Solana did not respond to a request for comment.

索拉納沒有回應置評請求。

In the wake of the sale, FTX creditors have expressed their dissatisfaction. "Once you're finished expressing your gratitude to the lawyers for draining the estate one hour at a time, please extend your thanks to Galaxy for selling the locked SOL at a nearly 75% discount to themselves," remarked Mitchell (@WR_Crypto) on Twitter.

出售後，FTX債權人表達了不滿。 「當你對律師一次一小時耗盡財產表示感謝後，請向 Galaxy 表示感謝，感謝 Galaxy 以近 75% 的折扣將鎖定的 SOL 出售給自己，」Mitchell (@WR_Crypto) 在推特。

During the sentencing of FTX co-founder and former CEO Sam Bankman-Fried, Sunil Kavuri, a victim of the collapse, vehemently objected to the sale of tokens at a discount before Judge Lewis Kaplan. Kavuri argued that the assets rightfully belong to the exchange's former customers, who should be the ones realizing the gains. "Sam continues to perpetuate the lie that we will be fully compensated," he told the court, rejecting the notion that FTX customers are "unsecured creditors."

在 FTX 聯合創始人兼前首席執行官 Sam Bankman-Fried 宣判期間，倒閉事件的受害者 Sunil Kavuri 在法官 Lewis Kaplan 面前強烈反對以折扣價出售代幣。卡武里辯稱，這些資產理應屬於該交易所的前客戶，他們應該是實現收益的人。他在法庭上表示：“Sam 繼續撒謊說我們將獲得全額賠償”，並否認 FTX 客戶是“無擔保債權人”的說法。

"I believe Galaxy's private wealth management arm is reaping substantial benefits," stated Thomas Braziel of 117 Partners and a broker of bankruptcy claims, in an interview with Fortune. Braziel alluded to the fact that Galaxy has secured both a role in the estate's disinvestment and the opportunity to acquire assets. "They have allocated themselves a rather sizable portion."

「我相信銀河的私人財富管理部門正在獲得巨大的利益，」破產索賠經紀人、117 Partners 的 Thomas Braziel 在接受《財富》雜誌採訪時表示。巴西爾提到，銀河已經在該地產的撤資和收購資產的機會中發揮了作用。 “他們給自己分配了相當大的一部分。”

"I do not believe shareholders have a legitimate grievance regarding the discount—that is simply the prevailing market sentiment," Braziel added, suggesting that discounts may be reduced for future blocks of tokens. "We typically begin with a substantial discount and gradually reduce it over time based on market feedback. It is analogous to the approach employed by bankers when liquidating assets."

Braziel 補充說：「我不認為股東對折扣有合理的不滿，這只是普遍的市場情緒。」他暗示未來代幣區塊的折扣可能會減少。 “我們通常會從大幅折扣開始，然後根據市場反饋逐漸減少折扣。這類似於銀行家清算資產時採用的方法。”

This article was originally published on Fortune.com.

本文原刊於 Fortune.com。