FTX Estate plans to start auctioning the third batch of locked SOL tokens on May 9

PANews reported on May 8 that according to The Block, the auction of the third batch of locked Solana tokens of FTX's bankruptcy estate is underway. According to people familiar with the matter, FTX's bankruptcy estate administrator plans to start auctioning approximately 41 million locked Solana tokens on May 9. These tokens will be gradually unlocked over the next four years, and staking rewards will also be released according to a specific schedule. The auction is part of FTX's restructuring plan, which aims to repay creditors by selling its holdings. FTX's management team hopes that through this series of auctions, it will be able to recover more funds for creditors while clearing out uncirculated crypto assets on its balance sheet.