FTX to Divest Digital Custody to CoinList at Major Loss
Bankrupt crypto exchange FTX has filed legal papers proposing the sale of its subsidiary, Digital Custody, to CoinList for $500,000.
The price is 95% less than what FTX originally paid, $10 million, to acquire Digital Custody back in 2021.
The crypto exchange intended Digital Custody to be a key asset in providing custodial services to its U.S. operations, FTX US and LedgerX.