In a move to address its financial obligations and recover from bankruptcy, the troubled crypto exchange FTX, along with its debtors, has submitted a proposal to the US bankruptcy court in Delaware seeking to sell trust assets. The proposal outlines the sale of trust assets, consisting of funds from Grayscale and Bitwise, with a combined estimated value of $744 million. The proposed sale of “trust assets” is aimed at preparing the estates for forthcoming distributions to creditors and streamlining the sale of these assets at the most opportune time. The assets earmarked for sale include approximately $691 million held in five Grayscale Trusts and an additional $53 million managed by Bitwise.
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