The now-defunct crypto exchange FTX led by the new CEO and chief restructuring officer John Ray III, wants to sell a subsidiary the bankrupt entity acquired for $10 million. The debtors are seeking court approval to sell their interests in Digital Custody Inc. (DCI) to Amalgamated Token Services Inc. (Coinlist) for $500,000. “Given the timing of the acquisition, DCI was never integrated into the operations of FTX US or Ledgerx prior to the commencement of these Chapter 11 Cases,” the court filing notes. “Following the commencement of these Chapter 11 Cases, the debtors sold its interest in Ledgerx in May 2023. The Debtors have also never sold or restarted the FTX US exchange. DCI has relatively few operations but still retains a valuable franchise.”
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