FTX court decision set for today
FTX court decision set for today
Markets are on edge as FTX, the beleaguered centralized exchange, gears up for a massive sell-off of digital assets, pending court approval. This development, coming hot on the heels of […] The post FTX’s Move to Offload Billions in Digital Assets Sparks Market Concerns appeared ...
FROM the article
All eyes are now on the court, which is set to make a crucial decision on September 13.
Should the court greenlight the proposal, Galaxy Digital would embark on selling up to $200 million worth of assets on a weekly basis. For the initial week, the limit is capped at $50 million, but it would then rise to $100 million, with FTX having the option to request further increases up to $200 million, subject to the court’s discretion.
And then...dip.