The former exchange explained that when the FTX Debtors sell locked digital assets, the terms and conditions governing the schedule for unlocking the holdings would still stand.
As the bankrupt FTX exchange prepares to settle obligations to creditors affected by its 2022 collapse, it has cautioned the public about its sole authorized investment manager.
In an X post on March 1, FTX said the sale of digital assets by FTX Debtors mandated by the bankruptcy court is solely managed by Galaxy Asset Management, the authorized investment manager. “Several non-authorized third parties are attempting to solicit bids from buyers on behalf of the FTX Debtors,” the former exchange stated.
In addition, FTX explained that if the FTX Debtors sell locked digital assets, the terms and conditions governing the schedule for unlocking the holdings would still stand. The bankrupt exchange has actively worked on restructuring and repaying its creditors in recent months. The platform has recovered assets totaling $7 billion, which it is using to repay former customers.
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