A weekly market report by America’s largest cryptocurrency exchange, Coinbase, has outlined several reasons why the forthcoming mass token liquidation by its bankrupt rival FTX is unlikely to cause market shocks in the ecosystem.
The research report, written by Coinbase head of institutional research David Duong, disclosed that analysts at the exchange found some factors that should mitigate the risks of market shocks when the assets are eventually sold.
FTX’s Forthcoming Crypto Liquidation
On September 13, Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware approved FTX’s motion to sell its crypto assets worth $3.4 billion, which included Solana (SOL), bitcoin (BTC), ether (ETH), Aptos (APT), and other tokens.
FTX’s top holdings are $1.16 billion in SOL, $560 million in BTC, $192 million in ETH, and $137 million in APT. The embattled firm also received approval to liquidate $1.3 billion in brokerage and government-recovered assets and $2.6 billion in de
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