FTX Estate Stakes $47M of ETH & MATIC, Total $170M Staked Now

The FTX bankruptcy team has staked a total of $170 million of assets including $120 million of SOL.
FTX Estate Stakes $47M of ETH & MATIC, Total $170M Staked Now

The bankruptcy team behind FTX has staked another $47 million worth of ETH and MATIC from assets after it staked $120 million worth of SOL

Onchain analyst Wu Blockchain reported that 13 million MATIC has been recently staked by FTX Estate, which will receive an annual yield of 4.6%. The team has also staked 24,000 ETH, worth approximately $37.4 million.

On October 14, the FTX addresses now controlled by the bankruptcy team, transferred $120 million of SOL to Figment, an institutional staking provider company. Etherescan data shows that it also staked 3,200 ETH, worth approximately $5 million on the same day.

The FTX bankruptcy team has been trying to utilize funds that were seized from the FTX and Alameda Research in order to pay back its creditors. 

Staking PoS (Proof-of-Stake) crypto assets, such as Ether (ETH), Polygon (MATIC) and Solana (SOL), is one of the safests way to generate revenue without requiring much.

Also Read: FTX Customers May See 90% Shortfall Claim Payout

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