FTX stated that it has requested permission to work with Galaxy Digital to help manage its crypto assets.
In a lawsuit filed late Wednesday, FTX stated that it will provide investment manager services related to certain digital assets. Announcing that it saved $7.3 billion in cash and crypto assets in April, the stock market is now seeking help from Galaxy Asset Management.
Words of praise for Galaxy Digital
FTX, currently under the management of John Ray III, spoke about the company as well-qualified, cost-effective and efficient to trade services, highlighting Galaxy Digital’s experience in the industry. In its application, the exchange outlined a list of the services it hopes for from Galaxy. These include buying, selling, trading, using, managing, staking, holding, trading, converting and trading a wide variety of financial instruments, including crypto.
Under the deal, FTX will pay Galaxy both a hedging fee and a liquidation fee, in addition to reimbursing Galaxy for certain costs. Wanting to benefit from the various services of Galaxy Digital for its trade activities, FTX stated that it will continue to work on this issue resolutely.
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