BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

FTX Estate Plans Sale of Digital Custody to CoinList for $500,000

by Matoy
February 11, 2024
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 2 mins read
A A
1
SHARES
12
VIEWS
Share on XShare in TelegramShare on Reddit
  • FTX’s estate, under CEO John Ray III, proposes selling Digital Custody to CoinList.
  • The sale price marks a significant reduction from the original $10 million purchase.
  • The decision reflects a strategic shift as FTX focuses on repaying customers.

In a recent turn of events, the team managing the bankruptcy for FTX, under the guidance of CEO John Ray III, has put forward a plan to offload Digital Custody. They’re eyeing a deal with CoinList, setting the price at a mere $500,000, a stark contrast to the hefty $10 million FTX shelled out for it initially.

A Sharp Turn from Past Investments

Digital Custody, once eyed as a key asset to bolster FTX US and LedgerX with its custodial services, now finds itself on the chopping block. The rapid changes within FTX, culminating in a bankruptcy filing last November by the then CEO Sam Bankman-Fried, left Digital Custody stranded, barely meshing with FTX’s broader operations.

Choosing the Best Path Forward

After mulling over multiple offers, FTX’s decision to go with CoinList wasn’t just about the numbers; it was also about speed and a smooth regulatory path, thanks to Terence Culver’s involvement, Digital Custody’s original CEO. This move has garnered nods from key committees within FTX, all while keeping the door ajar for a potentially better last-minute offer.

In a broader context, FTX has been clear about its current mission: winding down operations in a manner that prioritizes full repayment to its customers, moving away from any notions of a comeback. This stance was underscored in a recent court hearing, where FTX’s legal counsel dispelled any rumors of a revival.

This unfolding scenario underscores a significant pivot in FTX’s strategy amidst bankruptcy, as it navigates the complex task of reconciling its past ambitions with the present reality of ensuring fairness to its customers.

Tags: coinlistcryptoFTX
TweetShareShare
Previous Post

Nigeria Pushes Forward on Cryptocurrency Regulations to Combat Financial Crimes

Next Post

OKX Expands Its Web3 Wallet and Crypto Exchange in Argentina

DON'T MISS THESE! HOT OFF THE PRESS

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?
CRYPTO

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today
CRYPTO

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Load More

Related News

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

Litecoin Jumps 10%—Can a $100M Bet From a Biotech Company Kick Off a Bigger Rally?

July 18, 2025
Here’s Why Dogecoin’s Jumping Again Today

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve Finance FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.