Bankrupt FTX Seeks Galaxy’s Help for $3 Billion in Crypto Holdings!

The post Bankrupt FTX Seeks Galaxy’s Help for $3 Billion in Crypto Holdings! appeared first on Coinpedia Fintech News

FTX is looking to sell, stake, and hedge its substantial cryptocurrency holdings worth over $3 billion and is seeking advisory support from Mike Novogratz’s Galaxy conglomerate to maximize value from the sales. FTX plans to return creditor funds in fiat currency and aims to avoid harming the crypto holdings’ value through careful trading. FTX hopes to increase the stock available for distribution to customers awaiting refunds by generating low-risk returns on idle assets through staking digital assets. Galaxy Asset Management, an SEC-approved investment advisor, has extensive experience in digital asset management and trading. FTX’s requests require approval from a Delaware bankruptcy court.