FTX, the crypto exchange that filed for bankruptcy in November 2022, will sell Digital Custody Inc (DCI), one of its subunits acquired in the past, for a fraction of the original purchase price. The sale of CoinList, a tokenized platform, is capped at $500k, unlike the $10 million on FTX paid for DCI during August 2022. This move is part of FTX`s ongoing initiatives to dispose of its assets and repay its creditors following the collapse of the crypto empire of Sam Bankman-Fried.
FTX’s Strategic Divestment
In order to prevent further losses and reduce operating costs, FTX agreed to sell DCI. The decision was made after determining that DCI’s integration into FTX’s operations, specifically for custodial services for FTX.US and LedgerX, was no longer a feasible option. The fall of FTX and the later sale of LedgerX turned DCI into an extra service not covered by the bankrupt program of the now-bankrupt FTX exchange. Still, DCI has much value, especially its segregated accounts licens
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