Crypto trade FTX will get nod to promote $873M of property to repay collectors

Bankrupt crypto trade FTX has been given the inexperienced mild to promote round $873 million of belief property, with proceeds used to repay collectors impacted by the trade’s collapse in 2022, in accordance to a Nov. 29 submitting in a Delaware chapter court docket.

The $873 million in property will likely be sourced from FTX’s stakes in numerous trusts issued by crypto asset supervisor Grayscale Investments, valued at $807 million, and custody service supplier Bitwise — valued at $66 million.

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