Court approves FTX sale of $744 million worth of Grayscale crypto asset trust shares
On November 30th, FTX has been approved by the bankruptcy court to sell its approximately $744 million worth of cryptocurrency asset trust shares in Grayscale Investments to raise funds to repay billions of dollars in debt to creditors.
FTX plans to sell the assets in a way that maximizes value and avoids disrupting the digital investment market. Buyers will not hold actual cryptocurrency but instead will receive shares in the trust company formed and managed by Grayscale.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
VanEck’s Matthew Sigel Defends Ethereum’s Strong Utility Despite Bearish Market
How Solana is Surpassing Ethereum in Blockchain Performance
Debunking Bitcoin Myths: Separating Fact from Fiction in Cryptocurrency
Fundstrat Analyst Predicts End of Nvidia Stock Decline, Hints at Crypto Market Recovery
