HomeUncategorizedCrypto exchange FTX gets nod to sell $873M of assets to repay creditors By Cointelegraph

Crypto exchange FTX gets nod to sell $873M of assets to repay creditors By Cointelegraph

November 30, 2023

[ad_1]



Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets, with proceeds used to repay creditors impacted by the exchange’s collapse in 2022, according to a Nov. 29 filing in a Delaware bankruptcy court.

The $873 million in assets will be sourced from FTX’s stakes in various trusts issued by crypto asset manager Grayscale Investments, valued at $807 million, and custody service provider Bitwise — valued at $66 million.

Order authorizing FTX Trading to sell trust assets. Source: Kroll
FTX’s shares in Grayscale and Bitwise were worth $744 million as of Oct. 25, but the valued has increased since. Source: Kroll