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Home » FTX receives court approval to sell the cryptocurrencies it owns

FTX receives court approval to sell the cryptocurrencies it owns

Bitcoin (BTC) and cryptocurrency exchange FTX, which filed for bankruptcy in November 2022, received permission from a court to sell their holdings of the digital asset.

Today, September 13, 2023, the Bankruptcy Court for the District of Delaware, United States, entered an order allowing the company led by Sam Bankman-Fried, sell the equivalent of more than $3 billion in cryptocurrencies, including Bitcoin and Solana (SOL).

According to reports from the PressA lawyer representing FTX’s creditors’ committee said: “The sooner we can get this process started, the better.”

As CriptoNoticias reported 3 days ago, According to some analysts, Solana could be the cryptocurrency most affected by its price. This is because it was the coin that FTX promoted the most and also occupies the largest part of the insolvent exchange’s portfolio.

Solana price last month – Source: CoinMarketCap.

As can be seen from the chart accompanying this release, the market appears to have already anticipated this news SOL holders dump their holdings. Over the past month, the price of the cryptocurrency has fallen by more than 25%. At the time of this publication, each SOL unit is trading for just under $18.

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