FTX, the bankrupt digital asset founded by the disgraced Sam Bankman-Fried, continues its liquidation. Following the significant sale of assets and crypto holdings, its decision to sell Digital Custody Inc. (DCI) for a fraction of what it was purchased for has caught the attention of many.
Between 2021 and 2022, FTX acquired Digital Custody Inc. for a staggering $10 million. Guess how much the bankrupt firm is willing to sell it for? A meager $500,000, which is a 95% discount, to CoinList. Apparently, the trading platform seems more focused on repaying creditors than anything else.
Meanwhile, following the rise in investor sentiment post BTC ETF, Bitcoin (BTC) has been in an uptrend, eyeing $50,000 and even touching that amount briefly. This positions it as a bullish wave not to miss out on and one of the best coins to invest in.
At the same time, InQubeta (QUBE) has cemented its position as the best ICO after its recent jump saw it near the $10 million fundraising goal. Hailed as the best new crypto to invest in, it is a must-have token.
InQubeta (QUBE): $9.4 Million Raised So Far in Early Funding
InQubeta (QUBE) stands head and shoulders above most of the new ICOs. In its early funding, a staggering $9.4 million has been raised, suggesting confidence in its potential. Additionally, as an AI altcoin—a promising narrative—investors have been flocking to the presale, aiming to ride its massive wave.
Its convergence of AI and crypto means it will solve critical challenges within the fast-rising AI sector. Notably, fundraising and accessibility to the AI market have been identified as two of the most pressing issues within the sector, which InQubeta aims to address.
By building the first crypto-based Web3 crowdfunding platform for AI tech startups, they will be able to raise funds through cryptocurrency. Within its custom-built NFT marketplace, startups will source capital by minting investment opportunities represented as equity-based NFTs.
Of equal importance, it will employ a fractional investment model, which promises investors democratized access to the lucrative AI market. To achieve this, tokenized real-world investments—equity-based NFTs—will be divided into bits. This ensures no limits on investments.
In the seventh stage of the ICO, a token is priced at only $0.0224. It is tipped for a 70x rally by analysts, positioning it as one of the best cryptos to buy now.
FTX Potential Sale of a $10 Million Subsidiary for Just $500,000
The bankrupt crypto trading platform FTX has decided to sell Digital Custody Inc., a subsidiary acquired for $10 million, to CoinList for just $500,000. Undoubtedly, this has caught the attention of the crypto community, as it represents a whopping 95% discount.
The impending sale, which has been stirring up quite a buzz, has been approved by both parties. However, to safeguard against any potential transactional hiccups, a $50,000 reverse termination fee is in place.
The decision to sell Digital Custody at such a loss is in the wake of the firm’s commitment to repaying creditors and the lack of interest in restarting operations. The coming days will determine the direction of the sale.
Bitcoin (BTC): Aiming for $50,000
Bitcoin (BTC) is the rave of the moment—no surprises here. Following the SEC decision on Bitcoin ETFs, it has been upward for BTC, with crypto’s poster boy enjoying a period of rallying. New investors must be pleased with their investment at this point.
With 2024 shaping up to be a bull market—considering the anticipated halving event—Bitcoin has a promising outlook. Its current uptick has seen it briefly cross $50,000, although it has now settled around $49,000.Â
If you wish to ride this massive wave, go a step further from having Bitcoin only on your watchlist to adding it to your portfolio. As one of the best cryptos to invest in, you will likely be making a smart decision.
Conclusion
FTX’s decision to sell its subsidiary valued at $10 million for $500,000—although seemingly a bad deal—stems from its commitment to pay off creditors. Meanwhile, Bitcoin is close to the $50,000 mark, and InQubeta is poised to skyrocket. To participate in the ongoing QUBE ICO, follow the link below.
