FTX Seeks Approval for $3.4B Crypto Disposal!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 12, 2023 11:00

FTX, a defunct crypto exchange, is set to seek approval for the disposal of its $3.4 billion cryptocurrency hoard at a court hearing on September 13. The move has sparked volatility in the digital asset markets as traders ponder the potential impact of the disposals in the current economic climate. The court is considering a plan to liquidate the tokens to repay the exchange’s creditors. FTX has already recovered about $7 billion in assets, and Wednesday’s hearing is expected to provide further updates on the proceedings. September is typically a bad month for crypto markets, with volatility being a key concern for traders.