FTX, a bankrupt crypto exchange, has filed a request with the bankruptcy court in Delaware to sell key trust funds worth $744 million. These funds include assets from Grayscale, a crypto asset manager, and Bitwise, a custody service provider. The purpose of the sale is to prepare for forthcoming distributions to creditors. The trust assets, held in Bitwise and Grayscale trusts, act as a tool for investors to gain exposure to cryptocurrencies without actually owning them. The FTX debtors believe that selling these assets will mitigate the risk of price swings and maximize returns for creditors. They have proposed involving an investment adviser and a pricing committee in the sale procedure. This request comes after the court had previously approved the liquidation of $3.4 billion in crypto assets, with the sales being conducted in batches to avoid market disruption. Meanwhile, the FTX bankruptcy proceedings continue as the former CEO, Sam Bankman-Fried, has been found guilty on all seven counts in his criminal trial. The judge is set to order sentencing in the case in March 2024.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Sam Bankman-Fried
Companies	FTX, Bitwise, Grayscale
Currencies	US Dollar
Securities	None