FTX, a bankrupt cryptocurrency exchange, has announced plans to sell $744 million worth of its Trust assets held at Grayscale and Bitwise. The assets include various exchange-traded products managed by Grayscale, such as Bitcoin and Ethereum Trusts, as well as Bitwise’s 10 Crypto index fund. FTX stated that the sales are necessary to mitigate potential price swings and maximize the value of the company’s estates for distribution to creditors. To facilitate the sale, FTX will appoint an investment adviser approved by the court. This move is part of FTX’s efforts to compensate customers and investors who suffered losses from the company’s crash last year. Additionally, FTX’s founder, Sam Bankman-Fried, was recently found guilty of all charges and could face significant imprisonment.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Edgar W. Mosley II
Companies	Grayscale, Bitwise, FTX, Alvarez & Marsal North America
Currencies	Ethereum, Bitcoin
Securities	None