Covalent announced that the company has acquired CQT tokens held by the FTX bankruptcy estate through a private transaction

ChainCatcher news, Covalent co-founder Ganesh Swami stated on the X platform that as of April 26, 2024, Covalent has fully acquired all CQT tokens held by the FTX bankruptcy estate.

Swami mentioned that a private buyer purchased these assets a month ago and has since been selling them on the open market, which negatively impacted CQT. Therefore, Covalent reached out to this buyer last week and conducted a private transaction for all remaining CQT.