Token

MATH

Galaxy

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 <h2 id="strong-ftx-and-fund-transfers-strong"><strong>FTX and Fund Transfers</strong></h2> 
 <p><span style="font-weight: 400">The trading platform is still in the process of settling its creditors and these observed token transfers have cast a series of theories about what the core intention of the transfers might be. According to earlier reports, FTX has </span><span style="font-weight: 400">agreed to adopt</span><span style="font-weight: 400"> the expertise of Mike Novogratz’s Galaxy Digital to handle the tokens still associated with the brand.</span></p>  
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 <p><span style="font-weight: 400">One of the topmost schools of thought is whether or not these ongoing transfers are to an account controlled by Galaxy Digital or its associated wallets respectively.&nbsp;</span></p> 
 <p><span style="font-weight: 400">According to a screenshot of the transfer requests flying around on social media, the firm has moved tokens ranging from Chainlink (LINK) to MATH tokens and its native token FTT all of which are resident on the Wormhole Bridge. Some of the FTX token transfers have also transverse other chains or networks but with Wormhole posing as the dominant channel to move the funds.</span></p>  
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 <p><span style="font-weight: 400">Considering the history of the trading platform as it relates to token movements, there is also a group of free thinkers who believe these fund movements are suspicious and might be from an unknown actor. This school of thought is notably almost discredited seeing that the trading platform has not come out to denounce any form of unauthorized transfers from its associated wallet addresses.</span></p>  
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 </div> 
 <h2 id="strong-is-ftx-ready-to-refund-creditors-strong"><strong>Is FTX Ready to Refund Creditors</strong></h2> 
 <p><span style="font-weight: 400">FTX has been in its bankruptcy process since November last year, making this the 9th month of uncertainty for almost all of its creditors.&nbsp;</span></p> 
 <p><span style="font-weight: 400">The FTX Exchange has had a series of upheavals that appear to have fueled the retrogression in its attempt to quickly resolve and refund its customers whose funds were locked when it halted withdrawals. One of these challenges is the recent hack of its restructuring partner Kroll with tons of its creditors’ data exposed.</span></p> 
 <p><span style="font-weight: 400">As a result of the exploit, FTX had to </span><span style="font-weight: 400">halt users</span><span style="font-weight: 400"> from interacting with its claims portal, further elongating the timeline for the recovery being highly anticipated by FTX customers.</span></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/breaking-bankrupt-ftx-exchange-begins-token-transfers-tbt61315.html">https://thebittimes.com/breaking-bankrupt-ftx-exchange-begins-token-transfers-tbt61315.html</a></p>

Breaking: Bankrupt FTX Exchange Begins Token Transfers

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