Wrapped tokens issued by FTX or Alameda collapsing, no longer redeemable

2022/11/12 14:48

According to The Block, encapsulated token soBTC issued by FTX/Alameda Research on the Solana chain has plummeted and is now no longer redeemable after filing for Chapter 11 bankruptcy. In addition, encapsulated ETH on the Sollet wallet has fallen 9% and is currently priced at around $1,138. According to the founder of Rotkiapp, an open source portfolio tracker, disclosed on social media that multiple Solana on-chain encapsulated token assets are held in custody by FTX/Alameda Research, meaning that the associated token prizes are no longer redeemable and could go to zero in the future.

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