BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

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

Matoy by Matoy
February 11, 2024
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 2 mins read
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.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: coinlistcryptoFTX
TweetShareShare
Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

DON'T MISS THESE! HOT OFF THE PRESS

Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out
BITCOIN

Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out

September 15, 2025
How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy
CRYPTO

How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy

September 15, 2025
Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened
CRYPTO

Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened

September 15, 2025
BNB Overtakes UBS in Market Value – Here is What’s Next for Binance Coin
BINANCE BNB

BNB Overtakes UBS in Market Value – Here is What’s Next for Binance Coin

September 15, 2025
What Happened in Crypto Today? – September 15: Massive Tron, Ethereum, and Regulatory News
CRYPTO

What Happened in Crypto Today? – September 15: Massive Tron, Ethereum, and Regulatory News

September 15, 2025
Coinbase Teases Native Token for Base Network – Here is What Brian Armstrong Revealed
CRYPTO

Coinbase Teases Native Token for Base Network – Here is What Brian Armstrong Revealed

September 15, 2025
Load More

Related News

REX-Osprey Dogecoin and XRP ETFs Set to Launch This Week – Here’s What You Need to Know

REX-Osprey Dogecoin and XRP ETFs Set to Launch This Week – Here’s What You Need to Know

September 15, 2025
Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out

Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out

September 15, 2025
How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy

How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy

September 15, 2025
Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened

Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened

September 15, 2025
BNB Overtakes UBS in Market Value – Here is What’s Next for Binance Coin

BNB Overtakes UBS in Market Value – Here is What’s Next for Binance Coin

September 15, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

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

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews