FTX Seeks to Sell $744M in Crypto Assets to Pay Back Creditors After Bankruptcy
-
FTX and its debtors want to sell $744M of Grayscale and Bitwise assets to prepare for creditor payouts.
-
The assets are held in Grayscale and Bitwise trusts that allow exposure to crypto without owning it.
-
FTX aims to sell assets at opportune times to maximize returns to creditors.
-
FTX proposed using an investment advisor and pricing committee to oversee asset sales.
-
This comes after FTX went bankrupt last year following customer fund misuse.
-
Sam Bankman-Fried was recently found guilty of defrauding FTX customers and lenders.