FTX may receive approval for asset liquidation on September 13rd. As of April this year, FTX had custody of cryptocurrencies valued at $3.4 billion USD. The proposed plan is to sell assets worth up to $200 million USD each week.
In earlier news, in documents submitted to the court on September 7th, United States regulators opposed FTX’s proposed plan.
Is this a bearish signal as USD 200 millions of crypto will be sold?