$100 Million FTX Crypto Liquidation Strategy Announced: Investors Turn to Borroe.Finance

cryptonews.com:

Bankrupt crypto exchange FTX has unveiled its $100 million weekly crypto liquidation plan in its Chapter 11 proceedings. Meanwhile, Borroe.Finance ($ROE) is making waves in the Web3 sector, offering AI-powered funding and NFT-backed liquidity. With its deflationary token and impressive ROI potential, $ROE is a good crypto to buy today. 

Let’s explore how the FTX liquidation affects the cryptocurrency sector, including Borroe.Finance.

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On September 13, 2023, FTX submitted an updated proposal to the bankruptcy court outlining its revised strategy for the sale and transfer of its substantial digital assets as part of its Chapter 11 proceedings.

The recently outlined directive establishes a structured process for investment advisors to manage liquidation of a portion of FTX's cryptocurrency assets, while creditors closely monitor the proceedings.

For starters, the sale of valuable assets like Bitcoin (BTC) and Ethereum (ETH) will be limited to $50 million per week initially, with an expected increase to $100 million in the following weeks.

Furthermore, the proposal introduces strict guidelines for selling digital tokens linked to insiders. Before selling such assets, FTX has to provide advance notification to creditors and the US Trustee, allowing for a ten-day window for any potential objections that could suspend the sale proceedings.

FTX seeks approval for cryptocurrency hedging contracts through an authorized investment advisor, initially limited to Bitcoin and Ethereum. Notably, expansion to other cryptos is subject to creditor approval.

Moreover, FTX will provide biweekly and monthly reports on asset transactions, balances, staking yields, and market analyses to enhance transparency in the process.