FTX TAPS GALAXY TO SELL, STAKE, AND HEDGE ITS CRYPTO BILLIONS

Summary from the TLDR Crypto newsletter

Bankrupt cryptocurrency exchange FTX is looking to stake, sell, and hedge its ~$3 billion in digital assets. FTX wants to hire Mike Novogratz’s Galaxy as an advisor to optimize its sales. The company's goal is to protect the value of the holdings through calculated trading, potentially via weekly sales limits, and ultimately return funds to users in fiat instead of crypto.