The Delaware Bankruptcy Court has just approved the sale of certain low-value assets of FTX.
The approval applies to unencumbered investments with a valuation of up to $1 million, with an initial investment of no more than $5 million.
FTX, through subsidiaries including Alameda, has invested about $5.3 billion in 475 deals. The amounts ranged from $100 million for Mysten Labs to $1 million in checks for Limit Break or Messari.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the court decision, the debtors are required to coordinate sales with financial advisors. FTX will also have to report transactions for each calendar month.
Investors will have five days to contest the potential sale. If there are no objections, the platform is entitled to transact assets on its own without a court order.