5/12/2023 0 Comments Bond piper scott![]() ![]() ![]() Under the plan, customers with balances of AUD$250 or below will be paid back in full, and other customers will receive a rebalance of approximately 45% of the value of their crypto accounts when trading resumes. They stepped up and backed the business, putting forward a rescue proposal with AUD$1.3M of their own money to support the rescue. While 76% of companies which enter administration go on to enter liquidation, often leaving little recovery for their customers, the directors of Digital Surge, Josh Lehman and Dan Rutter, refused to let that happen. There has been considerable fall-out and financial suffering from the FTX collapse throughout the crypto community, and in December 2022, Digital Surge, a Queensland based Australian digital currency exchange entered voluntary administration, with AUD$32M of crypto trapped on FTX. First Australian crypto-exchange rescue starts Digital Surge ready to surge back to life ![]()
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