Court approves FTX plan to liquidate Grayscale and Bitwise shares worth $744 million

A bankruptcy judge in Delaware одобрил ходатайство by FTX and affiliated entities to sell Grayscale and Bitwise trust shares worth $744 million.

The corresponding filing was submitted on November 6.

Sales of the stakes will be conducted with a view to “maximising value and avoiding negative market impact,” according to the filing.

The transactions will involve Grayscale Bitcoin Trust, Grayscale Ethereum Trust, Bitwise 10 Crypto Index Fund, Grayscale Ethereum Classic Trust, Grayscale Litecoin Trust and Grayscale Digital Large Cap Trust.

The initiative could be the first stage in the sale of platform assets, which were valued at $3.4 billion.

Earlier in October, creditors and FTX management approved a plan under which clients could expect to recover $9.2 billion by mid-2024.

In the same month, the exchange’s management began considering three options for restructuring the platform.