Bitcoin

<ul><li>Delaware bankruptcy court authorizes FTX to sell about $873 million in trust assets.</li><li>The sale includes stakes in Grayscale Investments and Bitwise, aimed at repaying creditors.</li><li>FTX&#39;s token FTT shows an 8% increase in value following the ruling.</li></ul>The Delaware bankruptcy court has <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1&#61;MjYwMjgzNg&#61;&#61;&amp;id2&#61;-1" rel="noopener noreferrer nofollow">authorized</a> the sale of approximately $873 million in trust assets by the bankrupt cryptocurrency exchange FTX. This decision, detailed in a recent court filing, is a significant step in the ongoing efforts to reimburse creditors affected by the exchange&#39;s <a href="https://cryptotale.org/south-korea-singapore-and-japan-hit-hardest-by-ftx-collapse/" rel="noopener noreferrer nofollow">collapse</a> in 2022.FTX&#39;s assets for sale include stakes in trusts issued by Grayscale Investments and custody service provider Bitwise, valued at $807 million and $66 million, respectively. Notably, the valuation of these assets has increased since an October 25 assessment, which had them pegged at <a href="https://cryptotale.org/ftx-aims-for-court-go-ahead-on-744-million-asset-sale-amid-bankruptcy/" rel="noopener noreferrer nofollow">$744 million</a>.The market has reacted to these developments, with FTX&#39;s token, FTT, <a href="https://www.coingecko.com/en/coins/ftx-token" rel="noopener noreferrer nofollow">experiencing</a> an 8% increase in value. However, this uptick is accompanied by a 40% drop in trading volume, indicating fluctuating market risk. The token&#39;s trading value at press time was around $4.2689, with the Relative Strength Index (RSI) <a href="https://www.moneycontrol.com/crypto-market/technical-analysis/ftx%20token/fttusdt/daily" rel="noopener noreferrer nofollow">remaining above 50.0</a>, suggesting potential for further gains.Read full article at <a href="https://cryptotale.org/?p&#61;28175&amp;preview&#61;true&amp;_thumbnail_id&#61;28176" rel="noopener noreferrer nofollow">CryptoTale.</a>

FTX Receives Court Approval for $873 Million Asset Sale in Bid to Repay Creditors

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