The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The insolvent cryptocurrency exchange FTX has been granted permission to sell around $873 million in trust assets to repay creditors affected by the company’s bankruptcy. The assets, which include holdings in trusts issued by Bitwise and Grayscale Investments, have a combined value of $807 million and $66 million, respectively. FTX aims to sell the assets in a way that maximizes value while minimizing market disruption. The decision to allow the sale comes after FTX administrators have already recovered nearly $7 billion in assets, including $3.4 billion in cryptocurrency. The approval of the asset sale has caused the value of the FTX token (FTT) to increase by 8%.