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This article is from | CoinGecko

Original author | Nicholas Boey

Compilation | Odaily 0xAyA

Editor's note: Last night, Judge John Dorsey of the Delaware Court approved a plan that allows FTX to sell billions of dollars worth of cryptocurrencies. Previously, FTX submitted a plan in August to sell its holdings of cryptocurrencies under the guidance of financial advisors. According to the plan, most types of cryptocurrencies held have a weekly sales limit of $100 million, which can be permanently raised to $200 million. Previous court documents showed that FTX held $3.4 billion worth of cryptocurrencies.

CoinGecko has compiled FTX's cryptocurrency asset data, compiled by Odaily.

FTX, once a well-known cryptocurrency exchange, had a diversified portfolio of digital assets before its downfall. It is seeking approval from regulatory authorities to liquidate $3.4 billion worth of crypto assets. Here are the top ten crypto assets held by FTX in its bankruptcy estate.

As of August 2023, the top ten holdings of FTX are as follows:

What other coins does FTX hold?

FTX's largest holding is Solana (SOL), with approximately 55.8 million SOL tokens, worth $1.162 billion. FTX is one of the largest holders of SOL, owning over 10% of the total supply. Bitcoin (BTC) comes next, with FTX holding approximately 20.5 thousand BTC, equivalent to $560 million. However, this only represents a small portion of the circulating supply of Bitcoin, just 0.1%. Ethereum (ETH) ranks third in FTX's holdings, with around 112.6 thousand ETH tokens, worth $192 million, accounting for 0.09% of the circulating supply of ETH.

SOL, BTC, and ETH together make up 56.3% ($1.9 billion) of FTX's massive $34 billion cryptocurrency asset portfolio.

FTX's holdings also include Aptos (APT), Tether (USDT), Ripple (XRP), BIT (BITDAO), Stargate Finance (STG), Wrapped Bitcoin (WBTC), and Wrapped Ethereum (WETH), accounting for 21.8% of their holdings.

The remaining 21.9% of FTX's holdings consist of over 400 other tokens.

FTX's SOL Unlocking Plan

Most of FTX's SOL holdings are subject to a structured unlocking plan. While they hold a significant number of tokens, the majority (42.2 million) cannot be immediately sold on the market.

Here is the specific SOL unlocking plan for FTX:

According to the unlock plan, 6.184 million SOL tokens will be unlocked each month. The monthly release accounts for approximately 1.1% of FTX's total SOL holdings. However, it is worth noting that an estimated 7.5 million SOL tokens will be unlocked on March 1, 2025, which will account for 13.5% of FTX's total SOL holdings.

BTC and ETH account for 22.1% of FTX's holdings

Bitcoin (BTC) and Ethereum (ETH) represent a significant proportion, accounting for 22.1% of FTX's total holdings. However, BTC and ETH only constitute approximately 0.10% of their respective cryptocurrencies' circulating supply. The market should be able to absorb these holdings without significant impact during liquidation.

Altcoins and Stablecoins: FTX holds 23.7 million APT tokens

FTX holds $137 million worth of APT tokens, which represents 4.0% of its total holdings. These 23.7 million tokens account for approximately 10.4% of the current circulating supply of APT. However, it is important to note that the exact allocation between liquid and illiquid APT tokens is unclear due to the unlocking arrangement.

In addition, FTX holds $119 million worth of XRP, which accounts for 3.5% of its portfolio. These 22.54 million tokens represent approximately 0.43% of the current circulating supply of XRP, indicating a potentially lower market impact compared to SOL and APT.

FTX's positions also include STG worth $46 million, accounting for 1.35% of its investment portfolio. Although its currency value is small, these 83.8 million STG tokens account for 41.03% of the current circulating supply.

As for stablecoins, as of August 31, 2023, FTX holds USDT worth $120 million, accounting for 3.5% of its total holdings.

Source

This analysis analyzes the top ten digital asset holdings of FTX.com, FTX.US, and Alameda Digital Assets, including mainstream currencies that meet liquidity thresholds. The data for this analysis comes from official court documents and uses the closing prices of each digital asset on CoinGecko on August 31st, Solana's token economic data comes from Solana Compass.