The FTX estate was granted approval to sell its trust assets, including shares of Grayscale and Bitwise investment funds worth roughly $744 million, according to a New York bankruptcy court document filed on Friday.
“The debtors are authorized, but not directed, to execute sales of the trust assets, in their reasonable business judgment, in accordance with the following sale procedures,” the filing said.
FTX’s trust assets include shares in various Grayscale funds, including in Grayscale Bitcoin Trust (GBTC) and a Bitwise crypto index fund, with a combined value of $744 million as of October 25, according to a court document filed on Nov. 3.
FTX trust assets (Kroll)
The crypto exchange, once helmed by Sam Bankman-Fried, was one of the world’s largest trading platforms before it went bankrupt in November last year following a CoinDesk report revealing the shaky balance sheet of FTX sister trading firm Alameda Research.
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Kenyan authorities appear to have changed their mind about Worldcoin's operations, ahead of the project's suspension in the country.Wolrdcoin, which was co-founded by Sam Altman, CEO of ChatGPT developer OpenAI, is an identity and cryptocurrency protocol that uses iris scans to verify users. The company has designed its own hardware, known as the Orb, to…
Binance Labs, the venture capital and incubation arm of crypto exchange Binance, has taken the lead in a $10 million funding round for Neutron, a cross-chain smart contract platform focused on interchain security within the Cosmos ecosystem.CoinFund co-led the funding, proceeds from which will help advance development of Neutron’s blockchain software and promote growth for…
markets Fears of a U.S. recession have resurfaced over the last two days and the resulting risk aversion is bringing a boost to gold. For bitcoin, though, it’s a different story. The U.S. Institute of Supply Management said Tuesday its manufacturing index fell to a 10-year low of 47.8 percent last month from 49.1 percent…
NAB Ventures made an undisclosed investment in Zodia Custody, which is also backed by Standard Chartered, Northern Trust and SBI Holdings.Key immediate priorities include onboarding Australia’s unique ecosystem of home-grown digital asset exchanges and priming for the coming wave of ETF issuers.00:51Has Crypto Become Political?02:14FTX Victims File to Recover $8B in Forfeited Assets; Will Biden
DJT, a crypto token minted two months ago on the Solana blockchain, rallied as much as 180% Monday on an unconfirmed report that former U.S. president Donald J. Trump is behind it.If true, this would be the first time a presidential candidate from a major political party has created a cryptocurrency – but as of
May 21, 2020 at 15:58 UTCRussian Duma (Credit: Shutterstock/OlegDoroshin)Harsh new rules making many uses of digital assets punishable with fines or prison might soon become law in Russia. New draft bills setting out how Russia should regulate cryptocurrencies were sent to the country’s parliament, the State Duma, earlier this week. Although the official website for the…