Australian crypto exchange Digital Surge is looking to pull itself out of its tailspin despite being owed a large chunk of funds from FTX.
Australian cryptocurrency exchange Digital Surge appears to have narrowly avoided collapse, despite having millions of dollars in digital assets tied up in the now-bankrupt FTX crypto exchange.
The rescue plan was first floated to customers by the exchanges’ directors via email on Dec. 8, the same day the company fell into administration. In a statement, administrators at KordaMentha stated that creditors would be paid over the next five years out of the exchange’s quarterly net profits. “We expect further communication will be provided to all customers as the administration process with KordaMentha progresses,” it added.
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