FTX is ready to sell Grayscale and Bitwise trust assets
Bankrupt crypto exchange FTX filed in Delaware bankruptcy court to sell certain trust assets worth about $744 million owned by Grayscale and Bitwise. According to a joint statement from FTX and its debtors, this initiative will help prepare for payments to creditors in US dollars and allow debtors to move to sell trust assets at a lower price quickly. The document also states that selling trust assets to one or more buyers in one or more sales will reduce the cost and delay of filing a separate solicitation for each proposed sale under the sales procedures. “Additionally, because the Debtors may sell the Trust Assets to one or more buyers in one or more sales, sales pursuant to the Sale Procedures will alleviate the cost and delay of filing a separate motion for each proposed sale.” Court filing In March, affiliated debtors FTX and Alameda Research filed a lawsuit against Grayscale Investments. So, the plaintiffs are demanding the release of funds for shareholders of the Gra...