{"id":7470,"date":"2023-11-30T11:12:50","date_gmt":"2023-11-30T11:12:50","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=7470"},"modified":"2024-03-27T12:57:48","modified_gmt":"2024-03-27T12:57:48","slug":"ftx-grayscale-asset-sale","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/","title":{"rendered":"FTX Received Approval for Grayscale&#8217;s Asset Sale!"},"content":{"rendered":"<p>One of the biggest exchanges FTX has gained court approval to sell off Grayscale&#8217;s large assets and launched a transaction worth $744 million.<\/p>\n<p>Cryptocurrency exchange <strong>FTX<\/strong> received <strong>approval from the court<\/strong> to sell <strong><a href=\"https:\/\/coinengineer.net\/blog\/ftx-wants-to-sell-744-million-dollar-worth-fund-belonging-to-grayscale-and-bitwise\/\">Grayscale&#8217;s $744 million<\/a> worth of assets<\/strong>. According to breaking news shared by <strong>Bloomberg<\/strong>, the Grayscale assets that exchange dealer held included $597 million worth of <strong>Bitcoin product GBTC<\/strong>, Ethereum product ETHE worth $87 million and BITW which contains various cryptocurrencies worth $53 million and other products.<\/p>\n<p>Despite this large sale news, particularly the impact of the sale in the Bitcoin product caused the <strong>BTC price <\/strong>to drop temporarily to $37,600. However, generally, FTX&#8217;s sale approval did not significantly affect the BTC price.<\/p>\n<p><strong>According to court documents<\/strong>, FTX will carefully sell the assets in a way to <strong>maximize<\/strong> their values and not cause price volatility in the market. The bankrupt company <strong>FTX&#8217;s new management<\/strong> achieved a recovery success exceeding $3.4 billion in cryptocurrency assets and protected a total value of $7 billion.<\/p>\n<p>The current movements within the cryptocurrency market are notably attentive to the ongoing sales process associated with FTX&#8217;s Grayscale assets. This process has garnered substantial attention as it holds the potential to significantly influence market dynamics and investor sentiment in the crypto sphere.<\/p>\n<p><a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMNzVxQsw__DcAw?ceid=TR:tr&amp;oc=3\"><strong>To keep informed of our content instantly, you can follow us on Google News!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the biggest exchanges FTX has gained court approval to sell off Grayscale&#8217;s large assets and launched a transaction worth $744 million. Cryptocurrency exchange FTX received approval from the court to sell Grayscale&#8217;s $744 million worth of assets. According to breaking news shared by Bloomberg, the Grayscale assets that exchange dealer held included $597<\/p>\n","protected":false},"author":1,"featured_media":7469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[2675,1393,282,496,1096,2360,1734],"class_list":["post-7470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bad-news","tag-binance-ftx","tag-cryptocurrency-exchanges","tag-ftx","tag-grayscale","tag-short","tag-the-big-short"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FTX Received Approval for Grayscale&#039;s Asset Sale! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"FTX has gained court approval to sell off Grayscale&#039;s large assets and launched a transaction worth $744 million\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX Received Approval for Grayscale&#039;s Asset Sale! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"FTX has gained court approval to sell off Grayscale&#039;s large assets and launched a transaction worth $744 million\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-30T11:12:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-27T12:57:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"810\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/\",\"name\":\"FTX Received Approval for Grayscale's Asset Sale! - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp\",\"datePublished\":\"2023-11-30T11:12:50+00:00\",\"dateModified\":\"2024-03-27T12:57:48+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\"},\"description\":\"FTX has gained court approval to sell off Grayscale's large assets and launched a transaction worth $744 million\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp\",\"width\":1440,\"height\":810,\"caption\":\"Cryptocurrency exchange FTX\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FTX Received Approval for Grayscale&#8217;s Asset Sale!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\/\/coinengineer.net\/\"],\"url\":\"https:\/\/coinengineer.net\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FTX Received Approval for Grayscale's Asset Sale! - Coin Engineer","description":"FTX has gained court approval to sell off Grayscale's large assets and launched a transaction worth $744 million","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/","og_locale":"en_US","og_type":"article","og_title":"FTX Received Approval for Grayscale's Asset Sale! - Coin Engineer","og_description":"FTX has gained court approval to sell off Grayscale's large assets and launched a transaction worth $744 million","og_url":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/","og_site_name":"Coin Engineer","article_published_time":"2023-11-30T11:12:50+00:00","article_modified_time":"2024-03-27T12:57:48+00:00","og_image":[{"width":1440,"height":810,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp","type":"image\/webp"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/","url":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/","name":"FTX Received Approval for Grayscale's Asset Sale! - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp","datePublished":"2023-11-30T11:12:50+00:00","dateModified":"2024-03-27T12:57:48+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2"},"description":"FTX has gained court approval to sell off Grayscale's large assets and launched a transaction worth $744 million","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/11\/tempory-49.webp","width":1440,"height":810,"caption":"Cryptocurrency exchange FTX"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/ftx-grayscale-asset-sale\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"FTX Received Approval for Grayscale&#8217;s Asset Sale!"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/coinengineer.net\/"],"url":"https:\/\/coinengineer.net\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/7470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=7470"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/7470\/revisions"}],"predecessor-version":[{"id":16614,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/7470\/revisions\/16614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/7469"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=7470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=7470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=7470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}