{"id":153992,"date":"2023-09-12T06:07:47","date_gmt":"2023-09-12T00:37:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=153992"},"modified":"2023-09-12T06:07:47","modified_gmt":"2023-09-12T00:37:47","slug":"xrp-sol-eth-among-key-assets-in-ftxs-3-4-billion-liquidation-plan-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xrp-sol-eth-among-key-assets-in-ftxs-3-4-billion-liquidation-plan-crypto-news\/","title":{"rendered":"XRP, SOL, ETH Among Key Assets in FTX\u2019s $3.4 Billion Liquidation Plan &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div><a rel=\"nofollow noopener\" target=\"_blank\" class=\"article__lead-img--wrapper\" href=\"https:\/\/u.today\/alex-dovbnya\"><\/p>\n<p><\/a><\/p>\n<div class=\"article__lead-info\"><a rel=\"nofollow noopener\" target=\"_blank\" class=\"article__lead-name\" href=\"https:\/\/u.today\/alex-dovbnya\">Alex Dovbnya<\/a><\/p>\n<p>Cryptocurrency markets are bracing for impact as FTX, the troubled crypto exchange that declared bankruptcy last year, nears approval for a massive $3.4 billion asset liquidation<\/p>\n<\/div>\n<\/div>\n<div>\n<p>Cryptocurrency traders are on high alert as FTX, the beleaguered crypto exchange, moves closer to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/milesdeutscher\/status\/1701261775600025906\">a $3.4 billion asset liquidation plan<\/a>.\u00a0<\/p>\n<p>The liquidation, likely to get approval this Wednesday, will include significant volumes of several popular cryptocurrencies, including Solana ($SOL), Bitcoin ($BTC), and Ethereum ($ETH).<\/p>\n<h2>FTX liquidations loom<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/no-bars-behind-bars-ftx-founders-lawyers-decry-shoddy-prison-internet\">FTX<\/a> crypto exchange&#8217;s proposal to liquidate over $3 billion in recovered crypto assets has caused fresh concerns among investors, who fear that the large-scale sell-off could further destabilize an already struggling cryptocurrency market.<\/p>\n<p>The price of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/bitcoin-user-just-paid-half-a-million-dollars-for-a-single-transaction\">Bitcoin<\/a> has dipped below the $25,000 level, with the FTX sale likely remaining the main bearish catalyst.\u00a0<\/p>\n<p>Last month, the bankrupt crypto exchange partnered with Mike Novogratz&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/ftx-wants-to-get-mike-novogratz-and-his-galaxy-digital-to-manage-its-crypto-riches\">Galaxy Digital<\/a> to sell, stake, and hedge its $3 billion crypto holdings. It aims to return funds to creditors in fiat currency without affecting the asset&#8217;s value.<\/p>\n<p>Despite FTX&#8217;s attempts to secure its assets by bridging tokens back to their native blockchains, skepticism remains high among market observers.\u00a0<\/p>\n<p>In the meantime, the exchange is pursuing legal action against cross-chain service LayerZero Labs with the goal of recovering $21 million in assets.<\/p>\n<h2>The restart plan: FTX 2.0<\/h2>\n<p>In spite of its precarious position, FTX appears to be eyeing a comeback. A Delaware court filing shows that more than 75 bidders have been approached to gauge interest in backing a restart of the failed crypto trading platform.\u00a0<\/p>\n<p>The deadline for new bids is set for Sept. 24. This relaunch could be a significant shot in the arm for a crypto market still reeling from FTX&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/sad-story-behind-bankruptcy-of-alameda-research-and-ftx\">bankruptcy<\/a> and the ensuing industry-wide fallout.<\/p>\n<p>The unfolding FTX saga comes amid growing investor anxieties and regulatory scrutiny in the rapidly evolving cryptocurrency market.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Alex Dovbnya Cryptocurrency markets are bracing for impact as FTX, the troubled crypto exchange that declared bankruptcy last year, nears approval for a massive $3.4 billion asset liquidation Cryptocurrency traders are on high alert as FTX, the beleaguered crypto exchange, moves closer to a $3.4 billion asset liquidation plan.\u00a0 The liquidation, likely to get approval [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":153993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-153992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=153992"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153992\/revisions"}],"predecessor-version":[{"id":153995,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153992\/revisions\/153995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/153993"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=153992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=153992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=153992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}