Posted 11/30/2023, 2:17:57 AM
FTX Approved to Sell $873M in Assets from Grayscale and Bitwise Stakes to Repay Creditors
- FTX has been authorized to sell around $873M in assets from stakes in Grayscale and Bitwise trusts to repay creditors
- Nearly $700M comes from Grayscale's flagship Bitcoin trust (GBTC)
- FTX currently owns over 22M units of GBTC now worth $691M
- Approval comes almost 4 weeks after FTX filed motion to sell 6 crypto trusts on Nov. 3
- Sale proceeds will help recoup funds for impacted FTX customers from exchange's collapse in 2022