Good news for BTC lovers! Bankrupt cryptocurrency exchange FTX has received approval from the U.S. Bankruptcy Court to sell Grayscale-managed crypto trust assets worth up to $774 million in October! The move is part of FTX's ongoing efforts to repay creditors affected by the company's collapse in November 2022. 📉

Judge John Dorsey ruled that FTX could only sell trust assets through an investment adviser on a cryptocurrency exchange or over-the-counter (OTC). To date, FTX has successfully recovered approximately $7 billion in assets. 💰

Meanwhile, former FTX executives have teamed up to launch a new platform called Backpack. 🎒 As for FTX founder and former CEO Sam Bankman-Fried, he could face up to 115 years in prison on multiple fraud and money laundering charges. But don't worry, his attorneys are preparing to address the charges and say Bankman-Fried "maintains his innocence."