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FTX recently got approval to sell the trust assets worth $873 Million.
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The Grayscale Investments trusts, valued at $807 Million, and the Bitwise trust, valued at $66 Million, will contribute to the substantial sum of $873 Million set for liquidation.
FTX recently got approval to sell the trust assets worth $873 Million. The beleaguered cryptocurrency exchange got approval from the Delaware bankruptcy court. After the approval, the firm can move ahead with the much-awaited sale of assets.
The company noted in a November 29, 2023 filing that it looks at paying back the creditors from the proceedings generated after the sale of assets. The said creditors saw significant losses on their investments given the abrupt fall of once once-leading cryptocurrency exchange firm.
The assets earmarked for sale primarily include FTX’s stakes in trusts issued by two key players in the crypto space: Grayscale Investments and Bitwise. The Grayscale Investments
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