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Solana Foundation Lost Over $180 Million in Crypto on FTX

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The Solana Foundation held over $180 million worth of crypto asset exposure to the company as of November 6th, just before the exchange ceased processing withdrawals. 

According to the foundation’s report (last updated Monday), Solana held roughly $1 million in cash on FTX as of November 6th. The non-profit said these funds were “negligible” to its operations, accounting for less than 1% of its cash reserves.  The organization lost far more in crypto assets, however. Though no Solana (SOL) was held on FTX, roughly 3.43 million FTX (FTT) tokens and 134.54 million Serum (SRM) tokens belonging to the foundation are now trapped on the exchange.

In addition, the group held 3.24 million shares of FTX common stock.

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