FTX cryptocurrency liquidation process: The sale limit in the first week is 50 million USD, and then the weekly sale limit increases to 100 million USD

ChainCatcher news, North Rock Digital shared their understanding of the FTX cryptocurrency liquidation plan on social media after listening to the hearing: FTX can sell $50 million worth of altcoins this week and next week, after which the weekly limit increases to $100 million; they can hedge unlimited amounts of BTC and ETH at any time through arbitrage (buying put options and selling call options); then, after obtaining approval from various groups, they can sell actual spot BTC and ETH.

FTX does not seem to intend to wait until after 2028 to distribute cash to creditors; the plan is to finalize the entire distribution plan and all details before the second quarter of 2024. North Rock Digital indicated that, judging by the tone from all parties, they seem to want to complete this work in an efficient and orderly manner, emphasizing the need to minimize downside risks.