Bankrupt FTX reveals $100M weekly crypto liquidation plan in court filing

FTX submitted a revised order to the bankruptcy court early on Sept. 13 outlining proposed guidelines for selling and transferring its substantial digital asset holdings as part of its ongoing Chapter 11 proceedings.

The revised order outlines a structured process for investment advisors to liquidate portions of FTX’s cryptocurrency stash under creditor oversight. According to the filing, sales of assets like Bitcoin and Ethereum would be subject to limits of $50 million weekly for the first couple of weeks, rising to $100 million weekly after that.