FTX to Sell Custody Unit for $500K After Paying $10M Just Months Before Collapse

DCI was initially bought to provide custodial services for FTX.US and U.S.-based LedgerX, but due to the collapse of the FTX empire, it was never integrated into either operation. Following the sale of LedgerX – and after FTX said it wouldn’t restart or sell its exchange – DCI had “relatively few operations,” according to the court filing. Still, DCI remains a valuable franchise, given it has already acquired a custody license from South Dakota, according to the filing.

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• Source: https://www.coindesk.com/business/2024/02/12/ftx-to-sell-custody-unit-for-500k-after-paying-10m-just-months-before-collapse/?utm_medium=referral&utm_source=rss&utm_campaign=headlines