FTX’s businesses have drawn interest from roughly 117 different parties, according to a new legal filing in the collapsed crypto exchange’s bankruptcy case. Lawyers representing FTX debtors have prioritized selling four businesses: Embed, LedgerX, FTX Japan, and FTX Europe.

Russia’s central bank is reportedly set to start working on a cross-border settlement system using a central bank digital currency (CBDC), as it deals with sanctions that came in response to its invasion of Ukraine.

Bankrupt cryptocurrency lender BlockFi has announced it will disclose its assets and liabilities, as well as payments received ahead of its bankruptcy filing in November.

Top stories in the Crypto Roundup today:

• FTX Businesses Draw Interest From Over 100 Parties
• Russia to Work on CBDC Settlement System
• BlockFi to Disclose Assets, Liabilities Ahead of Bankruptcy Filing

FTX Businesses Draw Interest From Over 100 Parties

FTX’s businesses have drawn interest from roughly 117 different parties, according to a new legal filing in the collapsed crypto exchange’s bankruptcy case. Lawyers representing FTX debtors have prioritized selling four businesses: Embed, LedgerX, FTX Japan, and FTX Europe.

These four businesses are relatively independent from FTX, according to attorney Kevin Cofsky, and their value may decrease during the bankruptcy case if they are not sold.

FTX’s debtors have entered confidentiality agreements with 59 of the 117 parties interested in buying the collapsed exchange’s entities. Approximately 50 are interested in Embed, 56 in LedgerX, 41 in FTX Japan, and 40 in FTX Europe.

An initial hearing for the sales of the company's assets was initially scheduled for January 11th, but given the number of potential buyers and other factors involved in the bankruptcy proceedings, the timing of the hearing may be altered.

Russia to Work on CBDC Settlement System

Russia’s central bank is reportedly set to start working on a cross-border settlement system using a central bank digital currency (CBDC), as it deals with sanctions that came in response to its invasion of Ukraine.

According to a report by local media outlet Kommersant, Russia's central bank plans to move forward with its digital ruble in the first quarter of 2023, and will conduct a study on two potential models for cross-border settlements.

One of the proposed models sees various countries entering into separate bilateral agreements with Russia to integrate their CBDC systems. Each agreement would ensure the conversion and transfer of assets between the countries, in accordance with the rules and agreements.

The other model suggests the creation of a central hub-like platform for Russia to interact with other nations. This platform would enable the sharing of common protocols and standards to facilitate payments between the connected countries.

BlockFi to Disclose Assets and Liabilities Ahead of Bankruptcy Filing

Bankrupt cryptocurrency lender BlockFi has announced it will disclose its assets and liabilities, as well as payments received ahead of its bankruptcy filing in November.

The firm said it has reached out to 106 potential buyers shortly after its first bankruptcy hearing and will seek the court’s approval regarding the bidding process on January 30.

BlockFi specified that no member of the management team had taken out any cryptocurrency from the platform since October 14th, and had not withdrawn any amount larger than 0.2 BTC in value after August 17th.

The company also revealed that it had increased base salaries and provided retention payments for select employees, following a $400 million revolving credit facility from FTX US in July.

It added that it planned to file its assets and liabilities, along with a statement of financial affairs, on January 11.

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