{"id":2010722,"date":"2023-08-24T12:17:02","date_gmt":"2023-08-24T16:17:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bankrupt-crypto-exchange-ftx-picks-galaxy-to-manage-its-digital-assets\/"},"modified":"2023-08-24T12:20:42","modified_gmt":"2023-08-24T16:20:42","slug":"bankrupt-crypto-exchange-ftx-picks-galaxy-to-manage-its-digital-assets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bankrupt-crypto-exchange-ftx-picks-galaxy-to-manage-its-digital-assets\/","title":{"rendered":"FTX, a bankrupt crypto exchange, selects Galaxy to handle its digital assets."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbankrupt-crypto-exchange-ftx-picks-galaxy-to-manage-its-digital-assets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2010722&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) \u2013 Bankrupt crypto exchange FTX has hired U.S. crypto firm Galaxy as an advisor to help hedge and sell\u2062 its \u2064crypto holdings, according to court filings made late on Wednesday.<\/p>\n<p>Hedging of bitcoin and ether will provide a means to lessen FTX\u2019s exposure to adverse price movements before\u2064 their sale, the filing said. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Galaxy, owned\u200d by billionaire investor Mike Novogratz, will also help \u201cstake\u201d FTX\u2019s\u2064 crypto, a process where crypto is lent to validate blockchain transactions, earning interest in the\u200d process. <\/p>\n<p>\u201cGalaxy\u2064 Asset Management has \u2062extensive experience in\u200d areas relevant to digital\u200b asset management and trading,\u2063 including with respect to the types of transactions\u200d and investment objectives contemplated,\u201d the\u2062 filing \u200bsaid, referring \u2062to the\u2064 investment advisory arm of Galaxy.<\/p>\n<p>FTX filed for bankruptcy in November 2022 in the wake of claims that\u2062 the company misused and lost billions \u200cof dollars worth of \u200dcustomers\u2019 crypto deposits.  <\/p>\n<p>FTX\u2063 attorney Brian Glueckstein said on Wednesday at a court hearing in Wilmington, Delaware, that FTX remains\u200d on track to conclude its bankruptcy\u2064 in the second quarter of 2024, resisting a call for expedited \u2062mediation from the court-appointed committee that represents FTX creditors.   <\/p>\n<\/p>\n<p>  (Reporting by Shivani Tanna in Bengaluru; Editing by Janane Venkatraman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bankrupt-crypto-exchange-ftx\/attachment\/file-photo-illustration-shows-ftx-logo\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Biden says Putin is behind the\u2064 Wagner Group Leader Prigozhin\u2019s downed plane, while America\u2019s Mayor, Rudy Giuliani, turns himself in.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The\u2062 rapper who\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/forgiato-blow-dives-into-trumps-indictment-with-timely-track-real-america\/\" title=\"Forgiato tackles Trump's indictment with 'Real America' track.\">gained viral fame<\/a>\u200b with his hit song \u201cBoycott Target,\u201d Forgiato Blow, discuss his timely new song that tackles one \u2062of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bankrupt-crypto-exchange-ftx-picks-galaxy-to-manage-its-digital-assets\/\" title=\"FTX, a bankrupt crypto exchange, selects Galaxy to handle its digital assets.\">biggest current news \u2064stories<\/a>: Trump\u2019s \u200dindictments.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Make America Great Again Inc. spokeswoman Karoline Leavitt blasts\u2062 President Joe Biden\u2019s record \u200con the economy, \u2064saying American voters will\u200c remember 45th President Donald Trump\u2019s booming success in that regard.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Hawaii Governor Josh Green says he is considering <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/death-of-obamas-personal-chef-ruled-an-accident\/\" title=\"Obama's personal chef's death ruled accidental.\">pausing land purchases<\/a> after residents\u2063 report being contacted by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hawaii-governor-warns-against-land-grabs-from-opportunists\/\" title=\"Hawaii Governor cautions against opportunistic land grabs.\">realtors offering cash<\/a> for destroyed property.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By \u2063Dawn Chmielewski and Helen Coster (Reuters) -Warner Bros Discovery said on Thursday it was \u200cadding a\u2063 new offering to its Max\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) \u2013 Investors with short position on Nvidia lost $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) \u2013 Meta Platforms on \u2064Thursday said it would release\u200c an artificial \u200bintelligence (AI) model \u200ddesigned to assist in writing \u200ccomputer code\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Tatiana Bautzer NEW YORK \u200d(Reuters) \u2013 Citigroup has \u200cacquired a stake \u2063in Peruvian foreign exchange startup Rextie, its \u2063first fintech investment\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bankrupt FTX has enlisted Galaxy as an advisor to assist in hedging and selling its crypto assets, court documents revealed. By hedging bitcoin and ether, FTX aims to mitigate potential losses from price fluctuations prior to their sale.<\/p>\n","protected":false},"author":66,"featured_media":2010723,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2010722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2010722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2010722"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2010722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2010723"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2010722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2010722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2010722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}