Galaxy Digital Acquires FTXs Crypto Assets After Bankruptcy
According to court records released late Wednesday, bankrupt crypto exchange FTX has recruited U.S. crypto business Galaxy as an advisor to assist in hedging and selling its crypto holdings.
According to the petition, hedging bitcoin and ether will reduce FTXs exposure to adverse market swings before their sale.
Galaxy, which is controlled by billionaire investor Mike Novogratz, will also assist in stake FTXs cryptocurrency, which is a procedure in which cryptocurrency is lent to authenticate blockchain transactions and earn interest in the process.
Galaxy Asset Management has extensive experience in areas relevant to digital asset management and trading, including concerning t…
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