News Explorer — FTX Seeks Court Approval to Sell Trust Assets Worth $744 Million, Including Funds From Grayscale and Bitwise

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Nov 6, 6:30 am

Coindesk

FTX Seeks Court Approval to Sell Trust Assets Worth $744 Million, Including Funds From Grayscale and Bitwise

FTX and its debtors have requested approval from the U.S. bankruptcy court to sell trust assets, including funds from Grayscale and Bitwise, valued at approximately $744 million. The sale is intended to facilitate dollarized distributions to creditors and expedite the sale of the assets. FTX, once a major crypto exchange, filed for bankruptcy in November 2023 following allegations of misappropriation of customer funds.

FTX and its debtors have requested approval from the U.S. bankruptcy court to sell trust assets, including funds from Grayscale and Bitwise, valued at approximately $744 million. The sale is intended to facilitate dollarized distributions to creditors and expedite the sale of the assets. FTX, once a major crypto exchange, filed for bankruptcy in November 2023 following allegations of misappropriation of customer funds.

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