$soBTC and $soETH No Longer Redeemable

After FTX and Alameda filed for Chapter 11 bankruptcy protection, Solana-based wrapped Bitcoin $soBTC and wrapped Ethereum $soETH, which are issued by FTX or Alameda, are no longer redeemable.

According to CoinGecko, $soBTC is trading at $3,066.83, and $soETH is trading at $1,115.31. Both are seriously depegged.