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The FTX assets that will be sold include the derivatives platform LedgerX, the stock-clearing platform Embed and its regional arms, FTX Japan and FTX Europe. 752 Total views 45 Total shares Listen to article 0:00 News Own this piece of history

Collect this article as an NFT The judge in charge of overseeing the FTX bankruptcy proceedings has given the embattled crypto exchange the approval to sell some of its assets to aid its efforts in repaying its creditors.

According to a filing in Delaware Bankruptcy Court, Judge John Dorsey has approved the sale of four key units of FTX. The assets include the derivatives platform LedgerX, the stock-trading platform Embed and its regional arms, FTX Japan and FTX Europe.

Interested bidders can now contact investment bank Perella Weinberg, tasked to begin the sale process, representing FTX and its assets. Earlier this week, 117 partiesexpressed interest in purchasing the FTX assets for sale. These parties can access information regarding the assets as part of their due diligence before buying up the units. Cast your vote now!

Lawyers representing FTX started to seek the courts permission to sell the four units on Dec. 15, citing the risks of value loss for the assets. Currently, FTX Europe has its licenses suspended, while FTX Japan has been subject to business suspension orders.

Related: Crypto.?com CEO announces 20% staff cut, did not account for FTX collapse

The embattled crypto exchange has reportedly recovered around $5 billion in cash and cryptocurrencies, according to FTX lawyer Andy Dietderich. The FTX attorney said that while the exchange has recovered some funds, the crypto platform is still working to rebuild its transaction history. In addition, the customer shortfalls total amount remains unclear, the lawyer said.

Meanwhile, former FTX CEO Sam Bankman-Fried, who pled not guilty to all criminal charges,recently claimed that he did not steal funds nor stash billions. The former CEO said FTX international had $8 billion when its next CEO John Ray took over. Bankman-Fried also said that he pledged to use his personal assets to aid the effort in reimbursing users. #Law #Business #FTX #Regulation Related News What is total value locked (TVL) in crypto and why does it matter? Cryptocurrency is headed toward surviving its first ice age Silvergate faces class-action lawsuit over FTX and Alameda dealings FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares FTX paid $12M retainer to a New York law firm before bankruptcy filing

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Man ‘seen with weapons’ detained in Leeds after three injured

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Man 'seen with weapons' detained in Leeds after three injured

A man has been detained in Leeds after being “seen with weapons” and three people were left injured.

Police were called to Otley Road at 2.47pm on Saturday to reports of a “serious incident involving a man seen with weapons”, West Yorkshire Police said.

Officers arrived at the scene to find three people injured and a man was detained at the scene, the force said. The injuries are not believed to be life-threatening.

Officers inside the cordon in Leeds
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Officers inside the cordon in Leeds

Officers guard one of the crime scenes in Leeds
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Officers guard one of the crime scenes

An ambulance inside one of the cordons in Leeds
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An ambulance inside one of the cordons

Inquiries are under way to establish the “wider circumstances” and a “number” of crime scenes remain in place, they added.

This breaking news story is being updated and more details will be published shortly.

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Wrexham promoted for third season in a row under Ryan Reynolds and Rob McElhenney

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Wrexham promoted for third season in a row under Ryan Reynolds and Rob McElhenney

Wrexham AFC have been promoted for the third season in a row.

The North Wales-based side has gone from the National League to the Championship in just three seasons, under its Hollywood owners Ryan Reynolds and Rob McElhenney.

Wrexham were second in the table and had a run of eight games unbeaten ahead of their match against Charlton Athletic on Saturday, which they won 3-0.

Wrexham's James McClean lifts the trophy after the Sky Bet League One match at SToK Racecourse, Wrexham. Picture date: Saturday April 26, 2025.
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Wrexham’s James McClean lifts the League One trophy. Pic: PA

Wrexham's Dan Scarr celebrates with the fans on the pitch after Wrexham won promotion to the Sky Bet Championship after the Sky Bet League One match at SToK Racecourse, Wrexham. Picture date: Saturday April 26, 2025. PA Photo. See PA story SOCCER Wrexham. Photo credit should read: Martin Rickett/PA Wire...RESTRICTIONS: EDITORIAL USE ONLY No use with unauthorised audio, video, data, fixture lists, club/league logos or "live" services. Online in-match use limited to 120 images, no video emulation. No use in betting, games or single club/league/player publications.
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Wrexham’s Dan Scarr celebrates with the fans on the pitch after Wrexham won promotion to the Championship. Pic: PA

It is the first time any club has been promoted for three consecutive seasons within the top five tiers of English football.

The third oldest association football club in the world, Wrexham AFC was bought by Reynolds and McElhenney in 2020, and has since been the subject of a Disney+ documentary, Welcome To Wrexham.

Reynolds, wearing a Wrexham sweatshirt, and McElhenney were pictured celebrating each goal, and after the game, as the fans came onto the pitch at the SToK Cae Ras (Racecourse Ground) to celebrate the victory with the players.

Wrexham co-owners Rob McElhenney (left) and Ryan Reynolds (right) and Ryan's wife Blake Lively before the Sky Bet League One match at SToK Racecourse, Wrexham. Picture date: Saturday April 26, 2025.
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Wrexham co-owners Rob McElhenney (L) and Ryan Reynolds and Ryan’s wife Blake Lively, before the match. Pic: PA

Both stars came onto the pitch after the supporters returned to the stands.

More on Ryan Reynolds

Speaking to Sky Sports, McElhenney praised those behind the scenes, referring to “so many that don’t get the credit they deserve, people who aren’t talked about”.

Reynolds said bringing success back to the club “seemed like an impossible dream” when they arrived in North Wales in 2020.

Wrexham's Sam Smith celebrates in front of the fans on the pitch after Wrexham won promotion to the Sky Bet Championship after the Sky Bet League One match at SToK Racecourse, Wrexham. Picture date: Saturday April 26, 2025. PA Photo. See PA story SOCCER Wrexham. Photo credit should read: Martin Rickett/PA Wire...RESTRICTIONS: EDITORIAL USE ONLY No use with unauthorised audio, video, data, fixture lists, club/league logos or "live" services. Online in-match use limited to 120 images, no video emulation. No use in betting, games or single club/league/player publications.
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Wrexham’s Sam Smith celebrates in front of the fans after Wrexham won promotion to the Championship. Pic: PA

He put the three promotions down to “the coaching staff, the greatest dressing room” and an “all for one, one for all” attitude throughout the club, adding he was “speechless with their commitment and their emotion”.

As for the mouth-watering prospect of another promotion to the promised land of the Premier League, the pair agreed it was “for tomorrow”, before ending the interview with a joint mic-drop.

Veteran striker Steven Fletcher said, “as soon as I came to this club, I knew it was something special. We want to go again. We’ll reset in the summer, take a break and go again”.

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Whisper Aero ultralight aircraft scores $500K for “UltraQuiet” electric jet motor tests

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Whisper Aero ultralight aircraft scores 0K for

Along with Tennessee Tech, Tennessee-based ultralight aircraft company Whisper Aero has secured a $500,000 grant to help advance the company’s innovative electric jet motor concept off the drawing board and onto the testing phase.

Earlier this month, the Tennessee Department of Economic and Community Development (TNECD) announced plans to award $500,000 to Tennessee Tech and Whisper Aero through the Transportation Network Growth Opportunity (TNGO) initiative.

“We look forward to using these award dollars to place students in internships working directly with Whisper Aero leaders,” said Tennessee Tech President Phil Oldham. “By learning from an electric propulsion innovator like Whisper Aero, our students will gain invaluable perspective and can take what they have learned in the classroom and apply it right here in Tennessee.”

The grant will see a Whisper Aero glider fitted with a pair of the company’s eQ250 electric-powered jet “propulsors” for UltraQuiet flight. Tennessee Tech faculty and students will carry out copper-bird ground testing to ensure the safe integration of engines, batteries, and controllers, and kickstart Tennessee Tech’s new Crossville Mobility Incubator.

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Those propulsors, by the way, are super cool.

UnltraQuiet WhisperDrive; via Whisper Aero.

Whisper Aero’s main claim to fame is its innovative UltraQuiet WhisperDrive (above). It’s effectively an electrically spun ducted fan jet engine that uses a large number of stiff composite fan blades inside a lightweight, acoustically treated duct. With so many blades, the Whisper Aero propulsor can push more air than a conventional prop while spinning much more slowly. As such, the “blade passage frequency” moves up to more than 16,000 Hz – outside the range of most human hearing but not, supposedly, high enough to freak out the beagles.

The Whisper Aero ultralight is effectively an Aériane Swift3 glider fitted with a pair of Whisper’s eQ250 propulsors, each capable of up to 80 lbs. of thrust. The Ultralight has a wingspan of over 40 ft with a maximum L/D of 35:1 and can be stressed to a design loading of +6/-4g, making it capable of some pretty impressive acrobatic feats.

The Swift3 glider is designed for a low speed, low power cruising speed of 45–55 knots with “just” 6.5 hp. Power-off glides from a few hundred feet showed a low sink rate, and a climb rate of 1,250 ft/min with full self-launching power (in other words: the Whisper glider doesn’t have to be towed by a launch vehicle, like a conventional ultralight glider).

Quiet cool

Dual WhisperDrive fans deliver ~160 lbf of thrust; via Whisper Aero.

Range under full power is about 109 miles with current battery tech, but it’s expected that range under the latest EPiC 2.0 energy batteries would rise to nearly 170 miles.

Nathan Millecam, CEO of Electric Power System, said, “EPiC 2.0’s leap in energy density and thermal performance has enabled a significant increase in range, a clear validation of our next-gen cell technology. We are impressed by what the Whisper team continues to achieve in advancing electric aviation.”

The press release concludes explaining that flight tests are expected to show that the Whisper Aero glider can be flown, “a few hundred feet away from neighborhoods without any disturbances, while carrying a 220 lbs. payload with full range,” which is all kind of ominous in today’s political climate, but still pretty neat from a purely tech perspective.

The TNGO grant follows a separate grant from NASA awarded last year, though that grant aims to develop the eQ250s – not as a propulsion system, but as a key component in future spacecraft ventilation systems.

Tennessee Tech announces TNGO grant

With support from TNECD’s Transportation Network Growth Opportunity (TNGO) initiative, Tennessee Tech University and Whisper Aero are partnering to advance next-generation propulsion technology in the aerospace industry. This collaboration will enhance aerospace research and workforce development, ensuring Tennessee remains a leader in cutting-edge mobility solutions.

TNECD

SOURCE | IMAGES: TNECD; via eVTOL Insights, New Atlas.


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