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Australian Crypto Exchange Digital Surge Set to Come Back Online After Stakeholders Sign Recovery Plan

Australian cryptocurrency exchange Digital Surge is set to come back online after stakeholders signed the recovery plan on Wednesday, according to documents seen by CoinDesk.

The stakeholders signed the recovery plan a day before the exchange was set to go into liquidation, according to documents submitted to Australian Securities and Investments Commission (ASIC). Creditors were notified earlier today through a circular.

The exchange is expected to resume trading next week, a source said.

The Brisbane-based exchange was hit hard by the collapse of FTX as it held 33 million Australian dollars on the defunct platform founded by Sam Bankman-Fried.

(By Amitoj Singh)

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