FTX Allowed to Sell Almost $900M in Assets to Pay its Creditors
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A Delaware bankruptcy court has given the green light to FTX to sell assets worth approximately $873 million.
These assets, including stakes in trusts offered by Grayscale Investments and Bitwise, will be used to repay creditors impacted by the exchange’s collapse in 2022.
The value of the assets has increased since their initial valuation on October 25, 2023, which was stated as $744 million in the court document.
The motion to sell these assets was filed by FTX debtors on November 3, and after almost four weeks, the approval was granted by Judge John Dorsey.
FTX currently holds more than 22 million units of GBTC and 6.3 million shares of ETHE, valued at $691 million and $106 million respectively.
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