In the crypto world, FTX has a wallet full of Solana Network. Recently FTX, faced bankruptcy in crypto exchange so they moved their $10 million worth of digital assets to the Ethereum Network.
Experts are concerned that is it the beginning of Token Dumpining by bankruptcy. According to Arkham Intelligence (blockchain data analytics platform), the FTX wallet has already been transferred to Ethereum worth $6.23 million and altcoins worth over $4 million.
These transactions which moved by Wormhole Bridge to another FTX wallet include Uniswao worth $1.8 million, HXRO worth $1.3 million, SushiSwap worth $550,000, $260,000 worth of Frontire Tokens, and $1.2 million worth of FTX Tokens.
FTX proposed a plan, and in that plan, they want to appoint Mike Novogartyz’s Galaxy Digital management to their investment manager. Galaxy Digital management analyzes and takes action on FTX’s recovered crypto holdings.
The FTX estate gets permission to sell $100 million of tokens per week and in the next few weeks, the limit would be raised to $200 million. FTX exchange hedges its largest holding of Bitcoin and Ethereum.
FTX CEO John Ray III saying that the company had “begun the process of soliciting interested parties to the reboot of the FTX.com exchange.”
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