Coin

<ul class="news-points"> 
 <li>A bankruptcy court in a Delaware district permits FTX to sell its trust assets.</li> 
 <li>The funds will be paid to the creditors of FTX, to whom they owe billions of dollars.</li> 
 <li>The FTX estates include shares of Grayscale and Bitwise investment funds, now worth roughly $873 million.</li> 
</ul> 
FTX Trading Ltd. and its affiliated debtors are <a href="https://coinedition.com/will-the-sec-intervene-in-ftxs-mission-to-liquidate-assets/">granted permission</a> to sell or transfer their stakes in trust assets managed by Grayscale Investments, according to a recent <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MjU4NzkwNQ==&amp;id2=-1" target="_blank" rel="nofollow">case filed</a> in a Delaware bankruptcy court. The digital asset management company, which was valued at an estimated $744 million on October 25, has climbed up and is now roughly worth $873 million. 
The approval is necessary to “maximize and preserve the value of the estate for the benefit of creditors and interest holders,” to whom FTX owes billions of dollars. 
Moreover, the case order cites: 
<blockquote class="wp-block-quote"> 
 The Debtors [FTX and its affiliated debtors] are authorized, but not directed, to execute sales of the Trust Assets, in their reasonable business judgment. 
</blockquote> 
The buyers purportedly didn’t hold the actual currencies but instead got shares in trusts that Grayscale put together and managed. 
The motion grants FTX, via a thi…
The post <a href="https://coinedition.com/ftx-allowed-to-liquidate-873m-worth-of-bitwise-and-grayscale-assets/">FTX Allowed To Liquidate $873M Worth of Bitwise and Grayscale Assets</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

FTX Allowed To Liquidate $873M Worth of Bitwise and Grayscale Assets

Coin Edition

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