FTX Trading Approved to Start Selling Digital Currency From Crypto … – Bloomberg

FTX Trading Ltd. won court approval to begin selling digital currency from its hoard of $3.4 billion worth of cryptoassets to raise money for creditors who claim they are owed tens of billions of dollars.

Sales are likely to begin even before a lawsuit challenging the company’s ownership of much of the cryptoassets is resolved. A group of non-US creditors backed the sale proposal even though their lawsuit argues that FTX does not own crypto that customers put on the FTX.com exchange.