Court Approves FTX Liquidation Request

Name: FS Insight
Price range: $$$

Sep 13, 2023

Market Update U.S Equities are flat while $BTC has jumped back above $26k amid a mixed CPI report. August CPI increased 0.6% MoM, in line with expectations. The Fed’s preferred core CPI measure (ex. food & energy) increased 0.3% monthly, above estimates of 0.2%. The release has not changed CME market expectations of a pause at next week’s FOMC, currently at 97% at writing. Investors will be keen to hear whether further rate hikes are still on the table for this year, with probabilities of a November hike at 40%. $ETH is performing in line with $BTC, hovering at the $1.6k level. $TON is the top performer among the top 100, gaining 8.77% after the Telegram endorsed chain announced the TON Web3 wallet was officially integrated into the messaging app with over 800m users.A Delaware Bankruptcy Court has approved FTX’s proposal to liquidate billions in crypto assets. In a last-minute filing yesterday the exchange amended its proposal to address concerns raised by the U.S Trustee, the bankruptcy arm of the Department of Justice. Initially, the US Trustee had opposed FTX's plan, arguing that any intention to sell significant assets like Bitcoin or Ethereum should be widely publicized to allow others to voice objections. Originally, FTX planned to liquidate $3.4 billion worth of c

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