News

Alert: FTX’s Approval To Liquidate Assets Will Cause Big Selling Pressure

Key Points:

  • FTX is expected to receive approval to liquidate its assets on September 13th.
  • The crypto exchange plans to sell up to $200 million worth of crypto every week.
  • If the plan goes ahead as reported, it would equate to millions of dollars in sales each week.
FTX plans to sell $200M worth of crypto weekly after receiving approval to liquidate assets, potentially leading to millions in sales each week.
Source: X

FTX is rumored to receive approval to liquidate its assets on September 13th. The crypto exchange had $3.4 billion worth of crypto in April and plans to sell up to $200 million worth of crypto every week. Although there is no confirmation of the date yet, many people are reporting that it will start on September 13th.

As of now, there is no official source confirming this information, and many influencers are covering it without valid sources.

Crypto exchange FTX has filed a motion seeking court approval to establish guidelines for managing and selling some of their digital asset holdings. According to court documents, the exchange has requested authorization to retain an investment adviser to assist with selling certain coins and tokens over time.

The proposed guidelines would allow FTX to sell up to $100 million worth of digital assets per week, with the ability to increase the limit to $200 million temporarily. FTX contends that selling digital assets through an experienced investment manager will help maximize sale proceeds while reducing volatility exposure.

In addition to this, FTX is seeking permission to stake some idle crypto assets to generate passive yield. Although FTX’s digital asset sale guidelines and requested authority remain subject to bankruptcy court approval after notice and a hearing, if approved, it would equate to millions of dollars in sales each week.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

56 mins ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

3 hours ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

3 hours ago

Bitcoin Price in 2025 Will Reach $200,000: Bernstein

Analysts at Bernstein predict Bitcoin price in 2025 could reach $200,000, driven by factors like…

4 hours ago

This website uses cookies.