FTX has received court approval to sell certain investment assets and subsidiaries.
FTX and its sister firm Alameda spent around $5.3 billion across 473 investments. The investments ranged from huge checks — such as $100 million into Mysten Labs, the developer of the Sui blockchain — too many smaller investments, such as $1 million checks into startups Limit Break and Messari.
The U.S. bankruptcy court for the district of Delaware approved the motion to liquidate the investments on Feb. 13, authorizing the sale or transfer of certain assets.
Alameda and FTX invested around $837 million into 32 unique investment funds — including Sequoia, Multicoin, and Kraken Ventures.
The approved sale procedures require that the aggregate selling price of each asset is less than or equal to $1 million and that the "confirmed investment value" — which refers to the initial amount paid by FTX to acquire or invest in the asset — is less than or equal to $5 million.
