According to court documents, FTX plans to sell the assets in a manner that maximizes their value. Grayscale itself has been selling investments related to various digital currencies. Buyers did not own actual currency, but instead received shares in trusts that Grayscale controlled.
As of last month, FTX’s share of the trust was worth about $744 million, court papers said. Since FTX filed for bankruptcy last year amid allegations of fraud, the company’s advisers have been trying to sort out debts to various creditors, including clients who deposited cash and cryptocurrency on the trading platform.
According to court documents, FTX administrators have so far recovered approximately $7 billion in assets, including $3.4 billion in cryptocurrency.
The Wall Street Journal recently wrote that former FTX head Sam Bankman-Fried, convicted of fraud, spends his free time advising prison guards on crypto market issues. It recently became known that Can Sun, a key witness in the Bankman-Fried trial, is preparing to launch a new crypto exchange.
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