A Delaware bankruptcy judge approved FTX’s decision to sell its cryptocurrencies.
In a proposal submitted last month, FTX creditors requested that the exchange’s cryptocurrency sales be made through a financial advisor. In addition, the exchange was requested to sell only $100 million of cryptocurrencies per week. This could go up to $200 million under various circumstances.
Judge John Dorsey approved the creditors’ offer at today’s hearing.
He will inform the US Board of Trustees about the issue 10 days before selling FTX’s cryptocurrencies.
When FTX went bankrupt in November 2021, it had $3.4 billion worth of cryptocurrencies on its balance sheet.
The trial of FTX founder Sam Bankman-Fried is scheduled for October 2.
The tension caused by possible sales has paved the way for some of the altcoins to decline in recent days.
However, the leading cryptocurrency, Bitcoin, is traded at $ 26,142 at the time of writing.
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