The U.S. Trustee opposes FTX's motion to sell, pledge, and hedge digital assets, with the motion hearing scheduled for September 13

According to ChainCatcher, as reported by Unchained, the U.S. Trustee, the department overseeing the bankruptcy process, opposed FTX's motion filed in August regarding "the desire to begin selling, staking, and hedging its large cryptocurrency assets to return funds to creditors in the form of fiat currency rather than Bitcoin or Ethereum" in a court document dated September 7. A hearing on FTX's motion is scheduled for September 13.

Previously reported by ChainCatcher, FTX stated in late August that it hoped to begin selling, staking, and hedging its large cryptocurrency assets to return funds to creditors in the form of fiat currency rather than Bitcoin or Ethereum. These requests still require approval from the Delaware bankruptcy court.