FTX has been able to obtain permission from the U.S. judiciary to monetize its cryptocurrency assets, which will enable it to refund customers in U.S. dollars and reduce the magnitude of risks that may result from price volatility in cryptocurrency markets.
The company announced in a statement this week that it owns $3.4 billion in cryptocurrencies, of which $1.16 billion is Solana, $560 million is formed, and $192 million in Ethereum.
According to this judicial authorization, FTX will be able to sell cryptocurrencies worth $100 million a week or may reach higher levels of $200 million if both official and creditor approvals.
In November last year 2022, FTX declared bankruptcy and was then owned by Sam Fried, after customers withdrew all their money from the platform amid concerns about the company's ties to its affiliate fund.
