bankrupt crypto exchange, FTX, has moved $10 million worth of digital assets, including Ether and various altcoins, from the Solana network to Ethereum, sparking fears of a series of token dumps amid the exchange's bankruptcy proceedings. The transfer from an FTX wallet to another FTX wallet was tracked using blockchain analytics platform Arkham Intelligence.
#FTX has proposed a plan for Mike Novogratz's Galaxy Digital Capital Management to oversee the sale and management of its recovered crypto holdings, with limits on token sales intended to minimize market impact. The Delaware Bankruptcy Court will address the case of FTX token sales on September 13.
FTX's current reorganization #plan includes a potential reboot of the cryptocurrency exchange. The launch of the #new #exchange is expected to be completed in the #second quarter of 2024.
