FTX Wins Approval To Sell $873 Million Of Grayscale, Bitwise Assets
FTX has received approval from a bankruptcy court to start selling up to $873 million worth of assets in Grayscale and Bitwise investment trusts.
The Grayscale Bitcoin Trust accounts for $807 million of the assets, while custody service provider Bitwise accounts for the remaining $66 million. The approval came from a bankruptcy court in Delaware on November 29. 
The assets were originally worth $744 million, a court document shows, but have since appreciated.
FTX To Avoid Market Disruption
Court documents indicate that FTX will sell the assets in a way that not only maximizes the value but also avoids market disruption.
Interim CEO, John Ray III, who took the reins after Sam Bankman-Fried was ousted, has been spearheading the asset recovery efforts since November 2022. Up to $7 billion worth of assets have been recovered, out of which $3.4 billion (48.5%) comprise crypto.
Bankman-Fried has been accused of misappropriating customer assets worth almost $9 billion.
Also Read:
- FTX Seeks Court Approval To Sell Grayscale And Bitwise Assets Valued At $744 Million
- FTX Token Price Prediction: FTT Coin Crashes 9% As Buzz Grows Around A New Crypto Casino Project That Aims To Take On Rollbit
- Former FTX General Counsel Can Sun To Lead New Dubai Crypto Exchange
- FTX Token Price Prediction – Why is FTT Crypto Pumping in November?
Nhận xét
Đăng nhận xét