{"id":257539,"date":"2024-03-02T02:54:02","date_gmt":"2024-03-01T21:24:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=257539"},"modified":"2024-03-02T02:54:02","modified_gmt":"2024-03-01T21:24:02","slug":"ftx-issues-important-warning-to-caution-against-bid-solicitation-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ftx-issues-important-warning-to-caution-against-bid-solicitation-crypto-news\/","title":{"rendered":"FTX Issues Important Warning To Caution Against Bid Solicitation – Crypto News"},"content":{"rendered":"

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As bankrupt crypto trading platform FTX Derivatives Exchange gets ready to <\/span>fulfill its obligations<\/span><\/a> to creditors who were affected by its implosion in 2022, it has issued a warning, notifying the public of its only authorized investment manager.<\/span><\/p>\n

FTX Confirms Its Authorized Investment Asset Manager<\/strong><\/h2>\n

As its first monthly message to its community, FTX took to X to inform its creditors that the FTX Debtors\u2019 <\/span>sale of Digital Assets<\/span><\/a> under a bankruptcy court order, is exclusively under the purview of Galaxy Asset Management, the court-authorized investment manager. As such, the team would only accept any offers to sell or solicitation of offers to buy that are made only by Galaxy Asset Management.<\/span><\/p>\n

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The firm advised interested parties who are institutional buyers or otherwise in compliance with applicable law are therefore advised to take note.\u00a0<\/span><\/p>\n

The firm revealed that some unauthorized third parties are already making moves to bid on behalf of certain FTX Debtors. It is obvious that the FTX team is also ready for the occurrence of such cases and may have put structures in place to cater to any form of exploitation.<\/span><\/p>\n

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(1\/4) The FTX Debtors\u2019 sale of Digital Assets pursuant to Bankruptcy Court Order no. 2505 is exclusively being handled by the FTX Debtors\u2019 court-authorized Investment Manager, Galaxy Asset Management ([email\u00a0protected]<\/a>).<\/p>\n

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\u2014 FTX (@FTX_Official) March 1, 2024<\/a><\/p>\n<\/blockquote>\n

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In addition, FTX explained that in the case where locked digital assets are sold by the FTX Debtors, the terms and conditions governing the schedule for unlocking the holdings would still stand.\u00a0<\/span><\/p>\n

Attempt to Claw In All Assets Intensifies<\/strong><\/h2>\n

Noteworthy, in the last few months FTX has been on a mission to restructure and repay its creditors. It has retrieved up to $7 billion in assets with which it planned to repay its customers. A week ago, FTX <\/span>received approval<\/span><\/a> from the Supreme Bankruptcy Court of the United States District Court for the District of Delaware to sell off its over $1 billion stake in AI firm Anthropic.<\/span><\/p>\n

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It is strongly expected that the sales of the stake in the AI firm will go a long way to alleviate the financial tension hovering around FTX. If it is successful, it may lead to the full repayment of FTX customers\u2019 claims as well as that of its creditors.<\/span><\/p>\n

Still preparing for the repayment, the trading platform has been in communication with different government agencies, agreeing with them to commit to holding off on pursuing collection of about $9 billion in claims until after customers have been fully refunded.<\/span><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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As bankrupt crypto trading platform FTX Derivatives Exchange gets ready to fulfill its obligations to creditors who were affected by its implosion in 2022, it has issued a warning, notifying the public of its only authorized investment manager. FTX Confirms Its Authorized Investment Asset Manager As its first monthly message to its community, FTX took […]<\/p>\n","protected":false},"author":2,"featured_media":158953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-257539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257539","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=257539"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257539\/revisions"}],"predecessor-version":[{"id":257541,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/257539\/revisions\/257541"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/158953"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=257539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=257539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=257539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}