FTX Token

Million

Grayscale Bitcoin Trust

Dubai

Coin

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 <p>FTX has received approval from a bankruptcy court to start selling up to $873 million worth of assets in Grayscale and Bitwise investment trusts.</p>
 <p>The Grayscale Bitcoin Trust accounts for $807 million of the assets, while custody service provider Bitwise accounts for the remaining $66 million. The approval came from a bankruptcy court in Delaware on November 29. <img decoding="async" class="aligncenter wp-image-462194 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20776%20229'%3E%3C/svg%3E" alt="FTX Grayscale Bitwise" width="776" height="229" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp 776w, https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp 300w, https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp 768w" data-lazy-sizes="(max-width: 776px) 100vw, 776px" data-lazy-src="https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp">
  <noscript><img decoding="async" class="aligncenter wp-image-462194 size-full" src="https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp" alt="FTX Grayscale Bitwise" width="776" height="229" srcset="https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp 776w, https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp 300w, https://cdn.thebittimes.com/images/2023/11/30/304dbd8262ae10b37cadf00c6739c76b.webp 768w" sizes="(max-width: 776px) 100vw, 776px">
  </noscript>The assets were originally worth $744 million, a court document shows, but have since appreciated.</p>
 <h3 id="ftx-to-avoid-market-disruption">FTX To Avoid Market Disruption</h3>
 <p>Court documents indicate that FTX will sell the assets in a way that not only maximizes the value but also avoids market disruption.</p>
 <p>Interim CEO, John Ray III, who took the reins after Sam Bankman-Fried was ousted, has been spearheading the asset recovery efforts since November 2022. Up to $7 billion worth of assets have been recovered, out of which $3.4 billion (48.5%) comprise crypto.</p>
 <p>Bankman-Fried has been accused of misappropriating customer assets worth almost $9 billion.</p>
 <h3 id="also-read">Also Read:</h3>
 <ul>
  <li>FTX Seeks Court Approval To Sell Grayscale And Bitwise Assets Valued At $744 Million</li>
  <li>FTX Token Price Prediction: FTT Coin Crashes 9% As Buzz Grows Around A New Crypto Casino Project&nbsp;That Aims To Take On Rollbit</li>
  <li>Former FTX General Counsel Can Sun To Lead New Dubai Crypto Exchange</li>
  <li>FTX Token Price Prediction – Why is FTT Crypto Pumping in November?</li>
 </ul>
 <p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-wins-approval-to-sell-873-million-of-grayscale-bitwise-assets-tbt72211.html">https://thebittimes.com/ftx-wins-approval-to-sell-873-million-of-grayscale-bitwise-assets-tbt72211.html</a></p>
</div>

FTX Wins Approval To Sell $873 Million Of Grayscale, Bitwise Assets

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TheBitTimes

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