Court Approves FTX's Sale of Over $3 Billion in Crypto
Delaware court approves FTX's sale of $3 billion in crypto, with some conditions. Weekly sales limits set, but Bitcoin and Ether need extra steps.
A court in Delaware has said yes to FTX selling some of its Crypto worth $3billion. Judge John Dorsey decided this on Sept. 13 after they talked about some changes the day before.
FTX can now sell digital money every week, but not Bitcoin or Ether or some special tokens. For the first week, they can sell up to $50 million. After that, they can sell up to $100 million every week. If some groups agree, FTX can sell even more, up to $200 million each week.
But, if FTX wants to sell these Bitcoin, Ether, or special tokens, they need to tell some groups and wait ten days. The U.S. Trustee will also need to know.
