Anatoly Yakovenko, co-creator of Solana, has voiced his opinion that the SOL tokens held in FTX’s reserves should be redistributed to the former customers of the bankrupt crypto exchange. According to Solscan data, nearly seven million SOL tokens, valued at approximately $135 million at current prices, are still held in cold storage wallets by FTX almost a year after its bankruptcy.
Yakovenko expressed his thoughts on the matter on the social media platform X, emphasizing that distributing a substantial stack of SOL tokens to millions of new users would not only help compensate FTX users but also provide benefits to the Solana network, potentially by onboarding new users and decentralizing the network.
He stated, “My wish would be to distribute the SOL to all the FTX customers directly. Probably the least worst outcome for everyone… And getting it distributed to 5 million users would benefit the network over the long term. Win-win in my honest opinion.”
Yakovenko, also known as Toly, suggested that distributing SOL tokens would likely be a more efficient solution compared to the lengthy legal process FTX has been undergoing. He noted, “Seems like it would have been a much faster process and with less legal overhead if everything was just evenly split across all the users and let each user do what they will.”
FTX’s substantial holdings of SOL had a significant impact on Solana when the exchange collapsed last year, causing the Ethereum (ETH) rival’s price to plummet from $260 to $8 within a year.
As of the time of writing, SOL is trading at $19.35.
