FTX plans to sell over $3 billion in crypto assets through Galaxy to repay creditors with non-virtual currency
ChainCatcher news, according to CoinDesk, the bankrupt crypto exchange FTX hopes to begin selling, staking, and hedging its large cryptocurrency assets to return funds to creditors in fiat currency rather than in Bitcoin or Ethereum.
FTX aims to trade cautiously to avoid devaluing its over $3 billion in crypto assets, and is seeking to hire Galaxy Digital CEO Mike Novogratz as an advisor for assistance. These requests still require approval from the Delaware bankruptcy court.
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