FTX exchange has gathered $4.6 billion worth of tokens to sell, fueling fear of market sell-off
of altcoins worth $4.6 billion. As revealed by one of the company's attorneys, Andy Dietderich, a total sum of $5 billion in liquid assets have been located, and there are plans to sell off the stated value in nonstrategic altcoin holdings.
Since FTX filed for bankruptcy in November, its current chief executive officer, John Ray III, and its team of liquidators have been exploring various avenues to dig up cash that it can use to pay back the exchange's tons of creditors., it declared that its creditors number at least 100,000 and could be as high as one million altogether.
As part of the need to gather funds, the firm has requested permission to sell four of its wholly-owned subsidiaries, including FTX Europe and Embed Technologies, among others. With the revelation that it has over $4.6 billion in altcoins that it could sell, fair relief might be near for the exchange's creditors.Should FTX be granted permission to liquidate the altcoins as it has planned, the market may react with opposing views to general expectations.
While earlier reports revealed that FTT, the exchange's native token, accounts for the bulk of the assets on the exchange's balance sheet, the coin may record a significant pullback to complement the
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
FTX bankruptcy judge ends $135 million naming-rights deal for Miami Heat's FTX ArenaFTX Arena will be striped of its name, after a judge ended the deal between FTX and Miami-Dade County, according to several reports.
Consulte Mais informação »
5 signs that an altcoin bull run could be underwayBitcoin and select altcoins continue to pack on gains and the current record-low volatility and hope for positive macroeconomic data could see the rally extend in the short-term.
Consulte Mais informação »
FTX has recovered $5 billion worth of ‘liquid’ assets, lawyers sayFTX has recovered over $5 billion worth of liquid assets, including cash and digital assets, attorneys in bankruptcy court said.
Consulte Mais informação »
Collapsed crypto exchange FTX recovers $5 billion worth of assetsRecovery of assets might be good news for investors but who will benefit from it, if individual investors do not find a mention in court hearings?
Consulte Mais informação »
Senators voice concerns over law firm's role in FTX bankruptcyFour bipartisan lawmakers called for a 'disinterested examiner' to be appointed to FTX's bankruptcy proceedings in a letter to a judge on Monday.
Consulte Mais informação »
FTX Former Engineering Chief Nishad Singh Looking for Deal From Feds: ReportAnother one of SBF_FTX’s former confidants and roommates is reportedly engaging with NDNYnews in hopes of getting a plea agreement. Central to the deal is information on large donations to various political campaigns, according to Bloomberg.
Consulte Mais informação »