FTX is hoping interest on its crypto pile will add to the stock it can distribute to customers who are still waiting for their money back. The company, now run by restructuring expert John J. Ray III, worries that selling all in one go would cause the price to plummet, to the benefit of short sellers and other market participants. It’s turning to market experts to figure out how best to avoid that, for example via weekly sales limits.
FTX to Hire Galaxy Digital Capital Management to Help Sell Off $3B in Crypto
