Crypto Volatility Picks Up on Looming Sales From FTX’s $3.4 Billion Token Hoard
- FTX will seek approval for disposals at Sept. 13 court hearing
- September on average was worst month for crypto in past decade
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Volatility picked up in digital-asset markets as traders evaluated the prospect of crypto disposals by the defunct FTX exchange through its bankruptcy process.
FTX’s administrators have recovered about $7 billion in assets, including $3.4 billion of crypto. A court hearing is due on Wednesday to consider a plan to begin sales of tokens to help repay creditors, according to recent filings.