FTX, a crypto exchange, has been approved by a New York bankruptcy court to sell approximately $873 million worth of Grayscale Bitcoin Trust (GBTC) and Bitwise Crypto Index Fund shares to raise money to repay creditors. The court approval allows FTX to start selling its stakes in digital trusts managed by crypto firm Grayscale. The discount on GBTC continued to shrink as of Nov. 27, likely due to mounting anticipation for a regulatory nod toward spot Bitcoin ETFs. Grayscale updated the GBTC agreement for the first time since 2018, aiming to optimize the structure in preparation for conversion to a Bitcoin spot ETF listing. Firms FTX and Alameda transferred $10.8 million in cryptocurrency to the Wintermute, Binance, and Coinbase exchanges.
📣 Latest News: FTX and Alameda transfers another $22M worth of crypto asset #news #cryptonews #crypto
Grayscale Bitcoin Trust aims for ETF shift to narrow discount https://t.co/ifEts5UjLB
NEW: Grayscale hires former Invesco ETF lead John Hoffman as Managing Director and Head of Distribution and Strategic Partnerships ahead of the conversion of Grayscale #Bitcoin Trust into a spot ETF https://t.co/6IP7PuyFeL
NEW: Grayscale hires former Invesco ETF lead John Hoffman as CEO and head of distribution ahead of the conversion of Grayscale #Bitcoin Trust into a spot ETF https://t.co/N6JOFAGP3A
Grayscale’s Bitcoin trust discount widens as FTX estate set to sell shares https://t.co/n9YrMund2d
Firms FTX and Alameda transferred $10.8m in cryptocurrency to the Wintermute, Binance and Coinbase exchanges. https://t.co/w4KDp9vvgj
JUST IN: FTX obtains authorization to sell 💵 $837M shares in Grayscale and Bitwise Trusts, amid “forthcoming dollarized distributions to creditors.” https://t.co/6Hdf1QSGv5
Court Approves #FTX Estate’s Sale of $870M in Grayscale and Bitwise Shares Amid Surging Claim Transfers https://t.co/0D2PBzt8DR
🔸FTX is set to begin selling $744 million of assets to pay back creditors of the failed crypto exchange Court documents show that FTX aims to sell its stakes in funds managed by Grayscale, worth about $744 million, per Bloomberg, aiming to do so without disrupting markets while…
FTX is set to begin selling $744 million of assets to pay back creditors of the failed crypto exchange https://t.co/5d3fuYV9vx
A US court says FTX Trading and affiliated debtors can start selling $744M worth of Grayscale and Bitwise shares; GBTC accounts for 22.3M units worth $597M (@baidakova / The Block) https://t.co/yusMDjHdnG 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/lz4T5WAwBp
FTX Secures Court Approval: Sale of $744 Million in Assets to Take Place https://t.co/b2TG6N9GwI
FTX has been given the green light to sell some $873 million worth of shares in digital asset trusts—including the Grayscale Bitcoin Trust—to recover funds for creditors. Click below to read: https://t.co/ws7rDmtrNl
Grayscale updated the GBTC agreement for the first time since 2018, aiming to optimize the structure in preparation for conversion to a Bitcoin spot ETF listing: changing the management fee collection method from monthly to daily and allowing assets to be mixed in omnibus…
FTX received approval from a New York bankruptcy court to sell approximately $873 million worth of Grayscale Bitcoin Trust (GBTC) and Bitwise Crypto Index Fund shares. As the price of Bitcoin rises, the prices of these assets have also been rising. https://t.co/O83kCC4TUf
📣 Latest News: Crypto exchange FTX gets nod to sell $873M of assets to repay creditors #news #cryptonews #crypto
FTX Trading Ltd. and affiliated debtors can start selling $744 million in shares from Bitwise and Grayscale Trusts, a U.S. bankruptcy court said in a Wednesday filing. @JPRubin23 writes https://t.co/Bs83ksrcfF
FTX Cleared to Sell $873 Million in Grayscale Bitcoin Trust Shares and Other Holdings ► https://t.co/V4A0Sp9kp7 https://t.co/V4A0Sp9kp7
UPDATE: The market value of FTX's assets in Grayscale and Bitwise Trusts, which may sell after securing court approval, amount to roughly $873 million, based Wednesday's closing prices and reported shareholdings in the court filing. @sndr_krisztian reports https://t.co/UoIQPITWcN
FTX secured court approval to sell its holdings in Grayscale, Bitwise trusts that amounted to $744 million as of October 25, according to a Wednesday bankruptcy court filing. @sndr_krisztian reports https://t.co/6H0mFvT5cR
FTX won bankruptcy court approval to begin selling its stakes in digital trusts managed by crypto firm Grayscale in order to raise money to repay creditors https://t.co/1JPCH1zGpk
so FTX is going to nuke their Grayscale holdings - pretty sizable size, predominantly on the GBTC side. impecable timing to get this court order approved w/ GBTC discount to NAV at lowest (best) levels since early August 2021 the Grayscale trusts, notably GBTC and ETHE,… https://t.co/OsTcKKsqwz
FTX has been approved to start selling $744 million in Grayscale assets, per Bloomberg.
FTX won bankruptcy court approval to begin selling its stakes in digital trusts managed by crypto firm Grayscale in order to raise money to repay creditors https://t.co/8CbvsfGu3Y
FTX won bankruptcy court approval to begin selling its stakes in digital trusts managed by crypto firm Grayscale in order to raise money to repay creditors https://t.co/PVdeo59qWJ
JUST IN: FTX has been approved to start selling $744M of its Grayscale and Bitwise assets 👀 $597M of which is GBTC 😮 https://t.co/FroSV2C8Tp
FTX Approved to Start Selling $744 Million in Grayscale Assets: BBG
📣 Latest News: FTX failure reveals flaws in multifunction crypto-asset intermediaries — FSB #news #cryptonews #crypto
#PeckShieldAlert #FTX-labeled address transferred 250K $SOL (worth ~$13.6M) to #Wintermute #Alameda-labeled address transferred ~8M $MATIC to #CEXs, including #OKX and #Coinbase https://t.co/0UwAqnbpjB
In the past 8 hours, #FTX transferred 8M $MATIC($5.95M) and 1,592 $ETH($3.22M) to #Coinbase and #OKX. https://t.co/1qZ967Agee https://t.co/Ce6nMUGlVD
The discount on Grayscale’s Bitcoin Trust known as GBTC continued to shrink as of Nov. 27, likely due to mounting anticipation for a regulatory nod toward spot Bitcoin ETFs https://t.co/U38ZUeqn9X