FTX Exchange provides alerts on authorized auctions and asset sales

As bankrupt FTX Derivatives Exchange prepares to settle obligations to creditors affected by the 2022 collapse, it has warned the public about a sole mandated investment manager.

FTX on the X social platform The sale of digital assets by FTX borrowers is managed only by Galaxy Asset Management, an authorized investment manager, as determined by the bankruptcy court. Therefore, only offers to sell or buy from Galaxy Property Management will be accepted.

The statement issued by FTX is for the clarification of interested parties, especially the institutional buyers who comply with the law. The firm noted that certain unauthorized third parties had begun attempting to bid on behalf of certain FTX debt.

FTX also explained that when FTX borrowers sell their locked digital assets, the terms and conditions governing the schedule for unlocking the holdings will still stand. In recent months, the Bankruptcy Exchange has actively worked on restructuring and paying off creditors. The platform has repatriated a total of $7 billion in assets that it intends to use for client payments.

FTX is licensed by the United States District Court for the District of Delaware.

Related: SBF Sentencing: Letters highlight efforts to recover FTX funds

This comes after FTX's offer to sell its 7.84% stake in Anthropoctic. FTX originally invested about $530 million in the AI ​​startup in April 2022, months before it collapsed and filed for Chapter 11 bankruptcy in November of that year.

In the year In December 2023, FTX debtors claimants will be compensated based on the value of crypto assets at the time of bankruptcy: $16,871 for Bitcoin BTC and $1,258 for Ether ETH.

FTX lenders, meanwhile, have offered “in-kind” payments for crypto holdings. However, Justice John Dorsey sided with the debtors in his Jan. 31 ruling, saying the law was “very clear” on the issue.

On November 3, 2023, a jury found him guilty in a criminal trial of seven counts, including wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering conspiracy. Sentencing is expected on March 28 and carries a maximum sentence of 110 years in prison.

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