U.S. Bankruptcy Court Judge John Dorsey of the District of Delaware ruled that cryptocurrency exchange FTX can sell and invest its cryptocurrency holdings to repay creditors. Previously released documents showed the assets were worth more than $3.4 billion as of August 31.
FTX revealed earlier this week that it holds $1.16 billion worth of Solana (SOL) tokens, accounting for about 16% of the token’s circulating supply, as well as about $560 million worth of Bitcoin, with some assets also being liquidated Composed of altcoins with lower volatility. FTX Debtors submitted a proposed plan in August, under which token sales would be guided by financial advisors and weekly sales of most tokens would be capped at $100 million, although the cap could be raised to $200 million.
