FTX Sells Digital Custody Arm at Major Loss Months After $10M Purchase
• FTX to sell Digital Custody Inc. (DCI) to CoinList for $500K after paying $10M for it just months prior
• DCI was originally purchased to provide custodial services for FTX.US and LedgerX
• DCI has a valuable custody license from South Dakota but was never integrated into FTX.US or LedgerX operations
• Sale being made quickly to CoinList and original DCI CEO, who will provide financing
• FTX looking to sell assets and repay creditors after bankruptcy filing in November 2022