Cryptocurrencies are showing little improvement, and FTX is said to have received approval to sell $200 million in crypto assets 📢
On the cryptocurrency front, prices remain stagnant and from a technical perspective, a breakout to the downside is likely in the near term. Separately, FTX is said to have received approval to sell up to $200 million per week in cryptocurrency assets, many of which are altcoins, starting September 13; the decision appears to stem from regulatory pressure to sell as much as possible and recoup this already The assets of the bankrupt entity allow it to continue to rely on its core competencies and have the opportunity to relaunch FTX 2.0 within the next 24 months; if this plan comes to fruition, it will cause a huge supply and demand imbalance in the coming weeks, especially considering Cryptocurrency trading volumes have been very weak so far, but liquidators don’t seem too worried about market structure at the moment.
