FTX, the cryptocurrency exchange that collapsed last year, has received approval to initiate the liquidation of a substantial portfolio of digital assets on September 13th. The exchange, which held approximately $3.4 billion in cryptocurrencies back in April, is now set to execute the sale of these assets, following an approved plan to gradually liquidate their holdings.
The list of assets and their expected liquidation values are as follows:
- – $SOL: $685,000,000
- – $FTT: $529,000,000
- – $BTC: $268,000,000
- – $ETH: $90,000,000
- – $APT: $67,000,000
- – $DOGE: $42,000,000
- – $MATIC: $39,000,000
- – $BIT: $35,000,000
- – $TON: $31,000,000
- – $XRP: $29,000,000
With the total estimated value of these assets exceeding $1 billion, this move represents a significant step for FTX especially during this period that court cases have surrounded the company following it’s collapse.
FTX is expected to receive approval to liquidate the following assets on September 13th.$SOL $685,000,000$FTT $529,000,000$BTC $268,000,000$ETH $90,000,000$APT $67,000,000$DOGE $42,000,000$MATIC $39,000,000$BIT $35,000,000$TON $31,000,000$XRP $29,000,000
They had $3.4… pic.twitter.com/ydEohN23EX
— Crypto Rover (@rovercrc) September 9, 2023
The proposed plan is to systematically sell up to $200 million worth of cryptocurrency every week. This measured approach is designed to manage market impact and ensure those whose assets gone in the process.
Stay tuned for further updates on this developing story.
