Court documents indicate that FTX is seeking to sell its assets in a way that maximizes their value most efficiently. Grayscale, in turn, has been involved in the implementation of investment products related to various cryptocurrencies. Instead of direct ownership of cryptocurrency, investors purchased shares in trusts managed by Grayscale.
As of last month, FTX's share in these trusts was valued at approximately $744 million, as stated in the court documents. After FTX declared bankruptcy last year due to fraud allegations, the company's consultants are trying to settle debts with various creditors, including clients who invested cash and cryptocurrency in the trading platform.
According to legal documents, FTX's managers have already returned assets totaling about $7 billion, including $3.4 billion in cryptocurrency.
The Wall Street Journal recently reported that Sam Bankman-Fried, the former head of FTX convicted of fraud, is consulting prison supervisors on crypto market issues while serving his time. It was also revealed that Ken Sun, a key witness in the case against Bankman-Fried, plans to launch a new cryptocurrency exchange.
