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<p class="is-style-lead">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.</p> 
<p>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. </p> 
<p>The approval comes after debtors submitted a <a href="https://restructuring.ra.kroll.com/FTX/Home-DocketInfo?DockRelatedSearchValue=900807-2239" data-type="link" data-id="https://restructuring.ra.kroll.com/FTX/Home-DocketInfo?DockRelatedSearchValue=900807-2239" target="_blank" rel="noopener noreferrer nofollow">proposal</a> 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.</p> 
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   <p lang="en" dir="ltr">This is Alamedas Solana wallet which has the rights to the 26,740,743 staked <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> from 2025-2028.<br><br>This wallets keys will be sold in the FTX liquidation. Not the <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> which cannot be unlocked until 2025-2028.<br><br>As Ive been posting for weeks – FTX/Alameda only hold 7m <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> and… <a href="https://t.co/WeIkCKf2Ek" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/WeIkCKf2Ek</a></p>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1701995688262082825?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 13, 2023</a> 
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<p>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.</p> 
<p>This ceiling can be increased to $200 million, although adjustments will be evaluated on an individual token basis. Prior to selling high-profile digital currencies such as Bitcoin(<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (ETH), the estate is obligated to provide a 10-day advance notice to the US Trustee’s office.</p> 
<p> You might also like: <a href="https://crypto.news/ftx-unveils-100m-weekly-crypto-liquidation-strategy/" rel="noopener noreferrer nofollow"> FTX unveils $100m weekly crypto liquidation strategy </a> </p> 
<p>In a strategic move, FTX has expressed its intent to hedge Bitcoin and Ethereum(<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) to minimize the impact of market volatility on the proceeds generated from the sales.</p> 
<p>Furthermore, the estate has reserved the right to stake particular tokens—essentially participating in token-based activities that could generate additional income. This is seen as a way to potentially enhance the returns that could be distributed to the creditors.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/DWFLabs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@DWFLabs</a> is considering to purchase FTX assets in order to provide creditors the best execution price and mitigate a risk of a huge aggressive selling pressure that could send the market back to 2020’s capitalization</p>— Andrei Grachev (@ag_dwf) <a href="https://twitter.com/ag_dwf/status/1701955427582276081?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 13, 2023</a> 
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<p>Amidst these developments, tech firm <a href="https://crypto.news/dwf-labs-doubles-down-on-conflux-with-28-million-invested/" data-type="link" data-id="https://crypto.news/dwf-labs-doubles-down-on-conflux-with-28-million-invested/" rel="noopener noreferrer nofollow">DWF Labs</a> has expressed interest in acquiring FTX’s assets. </p> 
<p>Andrei Grachev, presumably a representative from DWF Labs, conveyed through a tweet that the firm aims to offer the “best execution price” for the assets.</p> 
<p>The acquisition would be targeted at mitigating the risk of drastic market fluctuations, potentially triggered by large-scale, aggressive selling. </p> 
<p>DWF Labs aims to prevent a scenario that could revert the <a href="https://crypto.news/market-cap/" data-type="link" data-id="https://crypto.news/market-cap/" rel="noopener noreferrer nofollow">crypto market</a> to its 2020 capitalization levels.</p> 
<p> Read more: <a href="https://crypto.news/justin-sun-considers-an-offer-for-ftxs-crypto-assets-to-prevent-potential-market-crash/" rel="noopener noreferrer nofollow"> Justin Sun considers ‘an offer’ for FTX’s crypto assets to prevent potential market crash </a> </p>

Delaware Judge allows FTX to sell up to $100 million of coins every week

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