Connect with us

Published

on

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

Continue Reading

Sports

Surging Giants call up top prospect Eldridge

Published

on

By

Surging Giants call up top prospect Eldridge

The San Francisco Giants, suddenly back in the playoff race with two weeks remaining in the regular season, called up their top prospect Bryce Eldridge, the team announced Monday.

Eldridge, a 20-year-old first baseman who was No. 29 in the latest prospect rankings by ESPN’s Kiley McDaniel, will seemingly fill the role vacated by fellow left-handed hitter Dominic Smith, who went on the injured list because of a hamstring strain over the weekend.

The 16th pick out of high school in 2023, Eldridge surged in Double-A at the start of the season and was slashing .249/.322/.514 with 18 homers, 88 strikeouts and 28 walks for the Giants’ Triple-A affiliate. His strikeout rate remained high of late, but his production improved over these past 17 games, during which he boasted a .294 batting average with 10 extra-base hits.

The Giants were using Rafael Devers at first base and designated hitter, with Smith and the right-handed-hitting Wilmer Flores essentially platooning at the other spot. Eldridge will be playoff eligible.

After acquiring Devers in the middle of June, the Giants went 13-22 heading into the trade deadline at the end of July, prompting the front office to deal veteran players. As of Aug. 22, the Giants were seven games below .500 and 7½ games out of the final National League wild-card spot, but they have since won 14 of 20 games and trail the slumping New York Mets by only 1½ games with 13 remaining.

Continue Reading

Sports

Cubs activate Soroka, who will be used as reliever

Published

on

By

Cubs activate Soroka, who will be used as reliever

PITTSBURGH — The Chicago Cubs activated right-hander Michael Soroka from the 15-day injured list before Monday night’s game against Pittsburgh.

Soroka will be used as a reliever. The Cubs acquired Soroka from Washington at the trade deadline and planned to use him as a starter.

However, Soroka pitched just two innings in his Cubs debut against Cincinnati on Aug. 4 and left because of a right shoulder strain. Soroka made a rehab appearance with Triple-A Iowa and allowed one run in 2⅓ innings.

Soroka is 3-8 this season with a 4.86 ERA in 17 starts.

Right-hander Ben Brown was optioned to Iowa in a corresponding move. He is 5-8 with a 5.92 ERA in 25 games, including 15 starts.

Cubs closer Daniel Palencia threw off the mound for the first time since going on the IL on Sept. 8 because of a right shoulder strain. He has converted 22 of 25 save opportunities and has a 3.00 ERA in 52 games.

Designated hitter Seiya Suzuki was not in the lineup Monday because of bronchitis.

The Cubs hold the first wild-card position in the National League.

Continue Reading

Environment

Enel and Mars ink a milestone Texas solar agreement

Published

on

By

Enel and Mars ink a milestone Texas solar agreement

Enel North America and food and snacks giant Mars have signed a massive clean energy deal that will power up Mars’s operations with Texas solar.

The two companies completed a power purchase agreement (PPA) for the full output – all 851 megawatts (MW) – of three Texas solar farms. Together, those plants are expected to deliver 1.8 terawatt-hours of electricity annually, the equivalent of enough electricity to power 150,000 homes. That makes this Enel’s largest corporate PPA worldwide.

Michele Di Murro, CEO of Enel North America, said the deal “shows how renewables are among the fastest and most affordable solutions to meet the nation’s energy needs. Through these agreements, we’re adding clean capacity to the Texas grid while supporting a leading manufacturer’s sustainability goals.”

For Mars, the move goes beyond just greening its own factories. Kevin Rabinovitch, global VP of sustainability at Mars, explained that this PPA “lets us bring demand for all the electricity used in our value chain to the clean energy market in a highly efficient manner. The more demand we create together, the faster we can build the future we all want.”

Advertisement – scroll for more content

All three solar farms will use sheep grazing to manage vegetation, a dual-use practice Enel has scaled through the largest solar grazing agreement in the US.


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending