Crypto volatility picks up on looming sales from FTX's US$3.4 bil token hoard
newscatcher
2023-09-17 17:36
Crypto volatility picks up on looming sales from FTX's US$3.4 bil token hoard
Volatility picked up in digital-asset markets, as traders evaluated the prospect of crypto disposals by the defunct FTX exchange through its bankruptcy process. FTX's administrators have recovered about US$7 billion in assets, including US$3.4 billion of crypto. A court hearing is due on Wednesday to consider a plan to begin sales of tokens to help repay creditors, according to recent filings.    A presentation shows that FTX holds nearly US$1.2 billion in SOL, the native token of the Solana network.

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