FTX, a crypto exchange, has revised its plan to liquidate billions of dollars worth of crypto assets in a bankruptcy case.
The exchange wants to address the concerns of the U.S. Trustee, a branch of the Department of Justice that oversees bankruptcy cases, according to a filing on Tuesday.
The new plan still allows FTX to sell off its bitcoin (BTC) and ether (ETH) holdings without giving public notice beforehand.
This is because such announcements could have a negative impact on the crypto market – as evidenced by the recent drop in prices after FTX revealed its intention to sell up to $100 million worth of crypto per week.
The U.S. Trustee had objected to FTX’s original plan, arguing that it should notify the public as widely as possible about its crypto sales, so that other parties could have a chance to object.
FTX has compromised by agreeing to inform the U.S. Trustee and the committees representing its creditors privately about its transactions.
FTX hopes that this will satisfy its opponents, as Judge John Dorsey will review the plan at a hearing later today in a Delaware court.
Earlier this week, FTX disclosed that it owns $1.16 billion in solana’s SOL and $560 million in bitcoin.
