A Delaware District Judge recently gave the green light to a plan allowing FTX, the bankrupt crypto exchange, to sell off billions in digital assets under specific guidelines, aimed at returning funds to creditors.

Delaware District Judge John Dorsey approved a plan on Sep. 13 to allow FTX, one of the widely known bankrupt crypto exchanges, to liquidate billions of dollars in digital assets.

The approval comes after debtors submitted a proposal in August, outlining the sale of the exchange’s cryptocurrency holdings. This move aims to address the complicated financial landscape FTX is navigating, all while attempting to return funds to the creditors.

The approved plan places certain restrictions on the sale process to ensure a methodical and structured approach. The estate’s sale activities will be overseen by a financial advisor, with a weekly sales limit set at $100 million for the majority of tokens.

This ceiling can be increased to $200 million,

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Author: Bralon Hill

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