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OKX Eyes Australia Expansion As It Returns Bankrupt FTX’s $157M

Crypto exchange OKX has announced it will return $157 million in frozen assets from bankrupt crypto firms FTX and Alameda Research. The funds were seized in November 2022 after FTX collapsed. OKX had frozen accounts and safeguarded the assets associated with the bankrupt firm. It did not provide further information about the kind of assets it was returning. OKX also announced it would open an office in Australia soon as part of its global expansion attempt. The country is one of several pushing for crypto regulation, with its finance minister arguing that crypto assets should be regulated as financial products.

(By Oluwapelumi Adejumo)

OKB OKB $53.79
-2.19%
OKX FTX Alameda Research
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