FTX, a bankrupt crypto exchange, has requested the U.S. bankruptcy court of Delaware to approve the sale of trust assets worth approximately $744 million. These assets include funds from Grayscale and Bitwise. The sale is intended to facilitate dollarized distributions to creditors and enable the exchange to quickly sell the assets at the right time. By following the proposed sale procedures, FTX aims to avoid the cost and delay of filing separate motions for each sale. The trust assets consist of five Grayscale Trusts valued at around $691 million and one trust managed by Bitwise worth $53 million. Grayscale and CoinDesk are both subsidiaries of Digital Currency Group (DCG).

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Information	Details
Geography	Global
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	None
Companies	Grayscale, Digital Currency Group (DCG), U.S. bankruptcy court of Delaware, Bitwise, FTX
Currencies	US Dollar
Securities	None