FTX Outlines Token Selling Plan | Crypto Daily Digest Sep.14
FTX got court approval to sell its crypto assets with a weekly selling limit.
The judge has granted permission to bankrupt FTX to liquidate its crypto holdings. In our newsletter from yesterday, we briefly discussed the potential impact of this sell-off on the performance of various tokens. Now, FTX has provided more details regarding its plan for handling these crypto assets.
Which Tokens Will Be Most Affected by the Upcoming FTX Selling? | Crypto Daily Digest Sep.13
FTX intends to sell its crypto holdings in a series of weekly batches, starting with an initial cap of $50 million for the first week and $100 million for subsequent weeks. FTX may potentially raise this limit, up to $200 million, with the prior written approval of the creditors' committee or through court approval.
However, it's important to note that not all assets will be treated the same way. BTC, ETH, and certain tokens associated with insiders will follow a distinct process. These tokens can only be sold after providing a 10-day notice to the creditors' committee and the US trustee.
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