Breaking: Court approves FTX’s request to Liquidate Crypto Assets – Which Coins Will Be Impacted?
The court clears the way for FTX to sell, stake and hedge its entire cryptocurrency portfolio.
FTX has gotten judicial approval to liquidate all of its cryptocurrency assets in order to raise money to pay its creditors.
Here’s how it will work: It will sell off Solana, which accounts for about 16% of the total value of the cryptocurrency .
It will also stake certain other cryptocurrencies, such as Ethereum, which could be used to hedge against large losses.
Finally, it will be able to buy back some of its own worthless coins.
Judge John Dorsey gave the green light to the liquidation during the trial.
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