In a significant development, the bankrupt FTX exchange has officially been given the green light to liquidate its crypto assets worth over $3.4 billion.
The exchange has large holdings in altcoin giants like Solana, Ethereum, and Aptos – putting traders on edge as they anticipate another crash.
Despite this, the FTX exchange has smaller holdings in Bitcoin, leading investors to flock to safe havens with no ties to FTX, such as Bitcoin BSC (BTCBSC), which raised $2 million over the last ten days during this uncertain period.
Crypto Crash Incoming? FTX Given Green Light to Liquidate Assets
FTX has officially been given the court approval to sell or stake all of its assets from the U.S. Bankruptcy Court for the District of Delaware this week.
Delivered by Judge John Dorsey, the court approved FTX exchange to sell its crypto assets worth $3.4 billion for the benefit of the estates and creditors.
The ruling allows FTX to sell up to $100 million in cryptocurrency weekly and enter into he
