FTX plans sale of Digital Custody for $500K in bankruptcy move
The FTX debtors estate, led by CEO John Ray III, has filed to sell Digital Custody to CoinList for a significant markdown of $500,000, with financing provided by DC’s original CEO and seller, Terence Culver. FTX initially purchased Digital Custody for $10 million. However, DC was not fully integrated into the FTX ecosystem before former CEO Sam Bankman-Fried filed for bankruptcy in November 2022, three months after acquiring DC.
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