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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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Environment

Why Arizona firefighters are now heading out on electric bikes

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Why Arizona firefighters are now heading out on electric bikes

It might sound counterintuitive since we often hear stories about fire departments being called out because of an e-bike. But firefighters in Scottsdale, Arizona, are now using e-bikes on emergency calls for a highly particular reason.

The Scottsdale Fire Department is often tasked with search-and-rescue of lost hikers in the area, and now they’re using electric bikes to help reach lost hikers more quickly, potentially saving lives when minutes matter.

The e-bikes, which appear to be Recon Stryker models designed specifically for police and security use.

“What we’re finding out is it’s taking off 45 minutes from our response time to making patient contact and stopping the clock,” says Scottsdale Fire Department Captain Dave Folio. “That’s huge for us becasue it’s safer for the hiker, and it’s safer for our crews.”

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The heavy-duty e-bikes include two motors for all-wheel drive, which is helpful on the rugged hiking trails they typically cover. The bikes are also mounted on carriers on the rear of ambulanaces, meaning they can be driven right up to a trailhead and then a first responder can continue down a rugged trail by e-bike to find the stricken hiker more quickly and beginning administering life-saving aid.

“We carry all the ALS (advanced life support) equipment on our backpacks. So we get there and we can start IVs, we can give meds, we can start the cooling process for treating heat stroke. So the e-bikes are pretty priceless to us right now.”

Folio attributes three lives already saved since the department received its new e-bikes, and another six e-bikes are now on the way.

Electrek’s Take

While this isn’t the most common way we see e-bikes used, it’s a great example of the many benefits of the technology off the beaten path, so to speak. I can’t imagine how much an official ambulance or fire rescue vehicle costs, but an e-bike must be a tiny, tiny fraction of that budget. And yet, it’s uniquely capable for arriving on scene faster.

Where I live, motorcycle-mounted EMTs have long been the very first of the first responders to arrive at an emergency scene in the city, but in the past few years I’ve actually seen electric bicycle EMTs rolling up first, as they’re sometimes even quicker. Cities are of course quite different than the rugged lanscapes these fire fighters are working with in Arizona, but many of the same principles around speed and agility still apply.

I just hope those batteries are UL-listed…

via: Fox10 Phoenix

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Politics

Crypto in US 401(k) retirement plans may drive Bitcoin to $200K in 2025

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Crypto in US 401(k) retirement plans may drive Bitcoin to 0K in 2025

Crypto in US 401(k) retirement plans may drive Bitcoin to 0K in 2025

Trump’s move to allow crypto in 401(k) retirement plans could push Bitcoin to $200,000 by the end of the year, according to Bitwise’s head of European research.

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Politics

Ex-White House crypto director Bo Hines takes Tether advisory role

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Ex-White House crypto director Bo Hines takes Tether advisory role

Ex-White House crypto director Bo Hines takes Tether advisory role

The appointment of Hines signals a renewed focus on entering US markets and more investments in “domestic infrastructure,” said Tether CEO Paolo Ardoino.

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