The bankruptcy court approved FTX to sell part of its invested assets and subsidiaries

It is reported that the Delaware Bankruptcy Court has authorized and approved the sale or transfer of certain FTX assets. This includes investments held by FTX in private and publicly traded companies, including tokens, token warrants and equity. The liquidators of the exchange submitted a motion on January 18, in which they said that some investors expressed a strong motivation to repurchase the rights and interests of FTX in order to raise additional funds from other investors. The Delaware Bankruptcy Court of the United States approved the motion on February 13, authorizing the sale or transfer of certain assets with “relatively low value” compared with the total asset base of FTX. The initial motion of FTX said that there were about 185 investments of US $1 million or less.

Interpretation of this information:

The Delaware Bankruptcy Court has given approval for the sale or transfer of some FTX assets, including investments in private and publicly traded companies, tokens, token warrants, and equity. Liquidators submitted a motion in January stating that certain investors wanted to repurchase FTX’s rights and interests to raise more funds. The court approved the motion on February 13, allowing the sale or transfer of assets of relatively low value compared to FTX’s total asset base. FTX had around 185 investments of US $1 million or less.