Bithumb, South Korea's second-largest crypto exchange, said during a shareholders meeting on Monday that it is considering listing on the Nasdaq in the U.S.
The estate of bankrupt crypto exchange FTX will set aside up to $230 million for shareholders, not creditors, from government forfeiture proceeds, according to a court filing.
The funds will be used to compensate shareholders who lost money in the exchange's collapse, including FTX founder Sam Bankman-Fried's family members, the filing said.
The move is likely to face opposition from creditors, who are still owed billions of dollars by the estate.
FTX filed for bankruptcy in November 2022 after a liquidity crisis wiped out the exchange. The company's new management has since been working to recover assets and sell off the exchange's remaining businesses.
In January, the FTX estate reached a deal with crypto exchange Binance.US to sell the assets of Voyager Digital, another bankrupt crypto company, for about $1 billion.
The estate is also planning to sell FTX Japan and FTX Europe separately, according to people familiar with the matter.
The latest court filing shows that the FTX estate had about $5.5 billion in cash on hand as of Feb. 17, up from $4.9 billion at the end of January.
The estate's total assets are now valued at about $9.6 billion, including the cash, crypto holdings and other assets.
The estate's liabilities, which include creditor claims, are still estimated to be in the range of $8 billion to $10 billion.
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