Bankrupt cryptocurrency exchange FTX has officially received approval from the US court for the sale of assets containing billions of dollars of crypto money.
The US Bankruptcy Court for the District of Delaware gave the green light for FTX to sell its cryptocurrencies in order to repay its investors. Judge John Dorsey by September 13 According to the decision taken today, for most cryptocurrencies, only 100 million dollars sales will be allowed, but this limit will be determined on a token basis if requested. for 200 million dollars It was stated that it could be removed.
FTX front however volatile price movements to minimize the impact on proceeds from sales. Bitcoin (BTC), Ethereum (ETH) and some other tokens if necessary hedge He emphasized that he wanted to. FTX also received approval to sell other assets other than cryptocurrencies.
On the other hand, in order to provide more income to creditors possibility of staking tokens Taking this into account, the stock exchange said that it also reserved these rights.
Response from FTX lawyers when Judge Dorsey asked who owned these sold cryptocurrencies blurry created a table. While the lawyers argued that the sold cryptocurrencies were the assets of the debtors, another lawyer claimed that all the assets were collected in a single pool and were recorded in a precise manner. Which user do they belong to? They stated that they could not say.
They’re all part of one pool. There are assets that we call FTX global and US pools, and it is difficult to say which client they are linked to.
With the sale of cryptocurrency, FTX will convert its assets into cash and pay its creditors in dollars. A lawyer of the committee of unsecured creditors said that the sale process of the cryptocurrencies in question should be accelerated expressed.
FTX has it, according to court records. $3.4 billion There are cryptocurrencies and assets around. FTX filed a confidentiality request with the US court to ensure that the market was not informed in advance during the liquidation process, without making sales according to the approved sales plan. 10 days ago He will need to notify the U.S. Board of Trustees. Now, the stock exchange will be able to make sales whenever it wants, without having to disclose it to the public.