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The Guardian - AU
The Guardian - AU
Technology
Josh Taylor

Australian crypto exchange Digital Surge saved after $1.25m loan from creditors

Digital Surge transferred $33m to FTX two weeks before the global platform went bust, leading the Australian firm into administration.
Digital Surge transferred $33m to FTX two weeks before the global platform went bust, leading the Australian firm into administration. Photograph: Beata Zawrzel/ZUMA Press Wire/REX/Shutterstock

A Brisbane-based cryptocurrency exchange will continue to operate after creditors agreed to a long-term plan from administrators keep the business going in an attempt to recover from the global collapse of FTX.

Digital Surge went into administration in December last year as a result of the company having transferred $33m worth of its assets to global platform FTX just two weeks before that company’s spectacular collapse in November.

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