IRS tax bill will swipe creditors of any ‘meaningful recovery,’ says FTX
FTX Trading said the firm “never earned anything anywhere near the amount” that would justify a $24 billion tax bill. Go to Source
FTX Trading
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Crypto exchange FTX gets nod to sell $873M of assets to repay creditors
Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC. Go to Source
FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate
On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share … Read more
