Released FTX Liquidation Data “Does Not Make Sense”: Influencer

The liquidation data for FTX, the defunct cryptocurrency exchange, has been published, and Martin Folb, the renowned crypto influencer known as MartyParty thinks the published information is inaccurate.

Folb shared an unlabelled screenshot of the liquidation data in tabular form, showing various crypto assets liquidated by the company and their valuation in three intervals between August 31 and December 17, 2023. According to Folb, the FTX liquidation will be remembered as the “most idiotic financial exercise in history.”

The liquidation data contained five crypto assets, including Solana (SOL), Bitcoin (BTC), Ethereum (ETH), Aptos (APT), and Ripple (XRP). According to the released data, FTX liquidated SOL tokens worth about $325 million at $21 on August 31. On December 8, the bankrupt crypto exchange liquidated about $1 billion worth of SOL at $68, and on December 17, it liquidated around $1.1 billion in SOL at $73 per token.

All the other liquidated cryptos were valued at various prices across those dates, depending on the estimated price of the coins or tokens on the respective dates. Hence, the total valuation of the five listed crypto assets on those dates was approximately $1.5 billion on August 31, $2.8 billion on December 8, and another $2.8 billion in approximation on December 17.

Folb was unimpressed with the released data and believes there is more to the FTX saga than is known to the general public. He accused Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), of trying to protect an individual or a group of people and requested that Hester Peirce, a commissioner at the SEC, publicize the details of the liquidation exercise.