Court approves FTX sale of $744 million worth of Grayscale crypto asset trust shares

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Cointime2023/11/30 00:15

By:Cointime

On November 30th, FTX has been approved by the bankruptcy court to sell its approximately $744 million worth of cryptocurrency asset trust shares in Grayscale Investments to raise funds to repay billions of dollars in debt to creditors.

FTX plans to sell the assets in a way that maximizes value and avoids disrupting the digital investment market. Buyers will not hold actual cryptocurrency but instead will receive shares in the trust company formed and managed by Grayscale.

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