A Delaware bankruptcy court has given bankrupt crypto exchange FTX permission to sell around $873 million of fiat assets, which will allow it to pay creditors affected by the platform's collapse last year.
According to the document, this amount will come from FTX's holdings in several trusts issued by crypto asset manager Grayscale Investments and custody service provider Bitwise, valued at $807 million and $66 million, respectively.
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The exchange's creditors filed a motion nearly 4 weeks ago with Judge John Dorsey requesting the sale of the six cryptocurrency trusts - including the Grayscale Bitcoin Trust (GBTC), the Grayscale Ethereum Trust (ETHE), and the Bitwise 10 Crypto Index Fund (BITW).
FTX currently holds more than 22 million units of GBTC.