The sale of around $873 million in trust assets by the insolvent cryptocurrency exchange FTX can now begin, and the money will go toward paying back creditors who were affected by the business’s bankruptcy in 2022.
A filing in a bankruptcy court in Delaware dated November 29 states that the debtors are given permission, but not an order, to sell the trust assets using their best business judgment and following these selling processes.
FTX To Liquidate $873 Million In Crypto Trusts
Based on court records, FTX intends to sell the assets in a way that optimizes value while avoiding market disruption for the digital investments. Grayscale offered financial products connected to different virtual currencies. Grayscale arranged and administered trusts for the buyers, so they did not own the actual currency.
The $873 million in assets will come from FTX’s holdings in a number of trusts issued by Bitwise, a custodial service provider, and Grayscale Investments, a cryptocurrency asset manag
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