FTX and Debtors Request Approval for Sale of Trust Assets

The bankrupt cryptocurrency exchange FTX and its debtors filed a petition last Friday with the US Delaware Bankruptcy Court, requesting approval for the sale of certain trust assets worth an estimated $744 million held by Grayscale and Bitwise through an investment advisor. FTX and Debtors Take Action for Trust Assets In the application made by FTX and the debtors, it was stated that “the proposal of the debtors to sell or transfer the trust assets will help prepare for distributions to creditors in US dollars and enable the debtors to quickly move to sell the trust assets at the appropriate time.” It was also mentioned that “selling the trust assets to one or more buyers in one or more sales will reduce the cost and delay of making a separate request for each proposed sale according to the sales procedures.” The “trust assets” are held in a total of five The post FTX and Debtors Request Approval for Sale of Trust Assets appeared first on COINTURK NEWS.