Bankrupt Cryptocurrency Exchange Sells the Company It Bought for 10 Million Dollars for Half a Million Dollars

Bankrupt cryptocurrency exchange FTX, Digital Custody Inc. (DCI) applied to sell his company.

FTX in total between December 2021 and August 2022 $10 million CoinList, the company he acquired in exchange for only 500 thousand dollars will sell it in return.

The transaction will be financed by Terence J. Culver, former CEO of Digital Custody Inc., who sold the company to FTX.

According to statements by FTX lawyers, DCI was acquired to serve as a custodian for FTX.US and LedgerX, but was not fully integrated into the company until FTX declared bankruptcy in November 2022.

FTX executives, LedgerX already sold and FTX.US exchange reopening not likely He does not think that DCI will provide any benefit to the company.

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