Odaily News FTX proposed a motion to sell, pledge and hedge more than $3 billion in crypto asset positions in August. As reported by Unchained Crypto, a hearing on the motion regarding FTX’s proposed plan is scheduled for September 13. In court documents filed on September 7, The US Trustee objected to FTX’s proposed plans. Crypto analyst The DeFi Investor posted on the X platform that it may face huge selling pressure next week, and FTX’s proposed plan is likely to be approved at the hearing on September 13. As of April, FTX exchange held $3.4 billion worth of cryptocurrencies. Under the proposed plan, FTX would sell up to $200 million worth of cryptocurrency per week. (Hankyung) According to previous news, court documents filed on August 24 showed that FTX hopes to start selling, pledging and hedging its crypto asset positions worth more than $3 billion, and hired Galaxy Asset Management as a consultant to help. FTX seeks to return funds to creditors in fiat currency rather than BTC or ETH, but believes that prudent trading can avoid losses on its crypto assets where possible. In addition, FTX is worried that selling all positions at once will cause the price to plummet, and is currently seeking advice from market experts to avoid this situation, such as weekly selling limits, etc. In addition, FTX posted on the X platform on September 6 that it has been actively cross-chaining various tokens to its native chain recently. In addition, FTX has been transferring SOL and other tokens from existing wallets to FTX custodian BitGo.