Bankrupt crypto exchange FTX received U.S. court permission on Wednesday to liquidate cryptocurrency assets, a move the company said would allow it to repay customers in U.S. dollars and minimize risks related to price volatility in crypto markets.
U.S. Bankruptcy Judge John Dorsey approved FTX’s proposal at a court hearing in Wilmington, Delaware, allowing FTX to sell up to $100 million in cryptocurrency per week and enter into hedging and staking agreements that will allow FTX to minimize the risk of price volatility and earn passive income on more mainstream crypto assets like bitcoin and ether.
‘Enforcement 40’ for 2020
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