FTX, a failed cryptocurrency exchange, is preparing to sell billions of digital assets to repay creditors, causing concerns among regulators. The exchange holds around $2.6 billion of solana and bitcoin, along with $1.7 billion in other cryptocurrencies. The transfer of $100+ million worth of solana to major exchanges suggests an upcoming sale.
Current FTX CEO John Ray and SEC Chair Gary Gensler could find themselves at odds over FTX ’s plan to sell crypto to repay creditors . With cryptocurrency markets rising, the failed exchange is preparing to sell billions of digital assets held in its coffers. That’s great for customers but problematic for regulators. Its disgraced founder may offer some cold comfort to about a million creditors, but getting some of their money back would be better. FTX is sitting on about $2.
6 billion of solana and bitcoin and another $1.7 billion in other cryptos. It has received judicial approval to start liquidating recovered crypto and has transferred $100+ million worth of solana to major exchanges, indicating a potential sale
FTX Cryptocurrency Exchange Sell Crypto Repay Creditors Regulators Solana Bitcoin Digital Assets
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