Bankrupt cryptocurrency exchange FTX has expressed readiness to sell $744 million worth of its Trust assets held at Grayscale and Bitwise, according to a Nov. 3 court filing.
The Trust assets consist of various exchange-traded products managed by Grayscale, including its Bitcoin and Ethereum Trusts and Bitwises 10 Crypto index fund. The filing shows that Grayscale oversees approximately $691 million in FTX assets, while Bitwise manages around $53 million as of October 25, 2023.
The failed crypto company explained that selling these assets was important to mitigate against potential downward price swings in the Trust Assets, maximize the value of the Debtors estates, and allow…
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