- FTX’s creditors filed a request to US bankruptcy court for authorization to sell certain assets held in trusts.
- The assets include five trusts held by Grayscale, including one managed by Bitwise.
- FTX and Alameda Research had previously dumped $13.5 million in assets.
A court filing from November 3 revealed that bankrupt crypto exchange FTX, along with its creditors, has submitted a request to the U.S. bankruptcy court in Delaware for authorization to sell certain assets held in trusts. These assets include funds from Grayscale and Bitwise, with an approximate total value of $744 million. The filing highlighted that the sale would be carried out under the guidance of an investment advisor and noted:
The Debtors’ proposed sale(s) or transfer(s) of the Trust Assets will help allow the estates to prepare for forthcoming dollarized distributions to creditors and allow the Debtors to act quickly to sell the Trust Assets at the opportune time.
The “Trust Assets” refers to assets held in five Grayscale Trusts, which collectively have an approximate value of $691 million, and one trust under the management of Bitwise, which is valued at $53 million.
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