🧵 1. Mike Novogratz's Galaxy Digital may manage FTX's recovered crypto holdings worth $7B following the exchange's collapse. #crypto
🧵 1. Mike Novogratz's Galaxy Digital may manage FTX's recovered crypto holdings worth $7B following the exchange's collapse. #crypto
🧵 2. FTX files a motion to authorize Galaxy Digital to handle the sale of digital assets recovered during bankruptcy proceedings.
🧵 3. FTX plans to reduce volatility and potential fiat repayments by transferring its holdings to Galaxy Digital's management.
🧵 4. Partnering with Galaxy Digital allows FTX to sell holdings anonymously, mitigate market manipulation risks, and maximize token portfolio value.
🧵 5. FTX aims to sell crypto holdings for fiat while hedging Bitcoin and Ether through Galaxy Digital to minimize price fluctuations.
🧵 Read more at: https://cointelegraph.com/news/ftx-files-for-galaxy-digital-to-manage-recovered-crypto-holdings