“We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities measured at petition date value. [It] just does not ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where our holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token,” said Sullivan & Cromwell attorney Adam Landis on FTX’s behalf.
Related posts
-
Opportunities for Blockchains and Digital Assets to Support and Enhance U.S. National Security
As national security experts, we invariably view emerging technologies through a lens that focuses on risk,... -
Newly-Qualified Crypto Custodian Balance Aims to Bring ETF Assets Held in the U.S. Back to Canada
The bigger picture concerns the growth of the crypto sector in Canada more broadly. The amount... -
Prosecutors Defend Nishad Singh Saying He Provided ‘Substantial Assistance’ in FTX Investigation
“Singh also brought to the Government’s attention criminal conduct that the Government was not aware of...