OKX, one of the largest cryptocurrency trading platforms in the world, has announced that it is transferring $157 million in frozen assets linked to creditors of FTX and Alameda Research. The move follows the filing of a new motion in the FTX bankruptcy case.
Earlier this year, OKX froze accounts and assets linked to FTX and Alameda Research after the two companies experienced a financial collapse. The decision was made as part of an effort to protect customers' funds on their platform.
Now, OKX has stated that they will be moving these frozen assets into a special account designated for creditors. This move is expected to help ease tensions between OKX and those affected by the FTX bankruptcy.
In a statement released by OKX, they said "We understand how difficult this situation has been for all parties involved. We are committed to doing everything we can to ensure that our customers' funds remain safe while also working towards a resolution that benefits everyone."
FTX and Alameda Research have yet to comment on the latest development in their ongoing bankruptcy case. However, many industry experts believe that this move by OKX could signal a positive turn for both companies as they work towards resolving their financial issues.
This news comes at an important time for cryptocurrency traders around the world who are looking for more stability within the market. With major exchanges like OKX taking steps towards protecting customer's funds and finding solutions for bankruptcies like those faced by FTX and Alameda Research, investors can feel more confident about their investments going forward.
As always with cryptocurrency markets though there is still much uncertainty around future developments so we advise caution when considering any investment opportunities related to cryptocurrencies.
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