2 months ago
1 min read
Ren Protocol to Transfer Crypto Assets to FTX Debtors’ Wallets in Shutdown Contingency Plan
Cross-chain bridge platform Ren Protocol has announced that it will be moving all of its crypto assets to FTX debtors’ wallets. This move was authorized and directed by FTX, Alameda Research, and other affiliates who acquired Ren Protocol in 2022. The decision to transfer assets to FTX debtors’ wallets was made to ensure that debtors can safeguard their assets in the event of a potential shutdown of Ren Protocol’s systems and infrastructure. Ren Protocol will also transfer the assets to a segregated wallet specific to its assets to separate the funds from other debtor wallets. Ren Protocol joined forces with