The post Court Approves FTX Sale of $873 Million in Trust Assets to Repay Creditors! appeared first on Coinpedia Fintech News
FTX’s request to sell around $873 million of trust assets to repay creditors. The assets will be sourced from FTX’s stakes in various trusts issued by crypto asset manager Grayscale Investments and custody service provider Bitwise. This is a significant development in the ongoing bankruptcy proceedings of FTX, which collapsed in November 2022. The sale of these assets will help to recoup some of the losses incurred by FTX’s creditors. FTX’s administrators have been working to recover assets since the company’s collapse. So far, they have recovered around $7 billion in assets, with nearly half of that coming in the form of cryptocurrencies.
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