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On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee
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As many as 117 parties have expressed interest in buying up one or more of FTX’s independently operated subsidiaries including FTX Japan, FTX Europe, LedgerX and Embed. In a Jan. 8 court filing made by Kevin Cofsky, a partner at Perella Weinberg, the investment bank representing FTX US and affiliated firms.
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A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently-operated subsidiaries, arguing that they should be privy to the sales process to ensure customer interests are represented. It has also shared concerns that "misappropriated customer funds” may have been used to acquire, or keep
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Earlier, FTX made a number of targeted acquisitions that established it as a market leader in the digital currency ecosystem.Bankrupt digital currency trading and derivatives platform, FTX has filed a request with the Bankruptcy Court of Delaware to permit the bidding process for four of its solvent and independently operating
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Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries. The firm’s new CEO has instructed the FTX team “to prioritize the preservation of franchise value as best we can in these difficult circumstances.” New FTX CEO Outlines Priorities Cryptocurrency exchange FTX and approximately
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