FTX Launches Strategic Review of Assets as Hacker Dumps ETH
Bankrupt FTX has launched a strategic review of all its assets to see how they can be recovered for maximum value for its stakeholders’ benefit. A Nov. 19 press statement from the bankrupt crypto exchange said the strategic review would be for FTX Trading Ltd, known as FTX.com, and the over 100 companies affiliated with it.
According to the press release, many of the regulated and licensed subsidiaries of FTX, both inside and outside the US, like LedgerX LLC and Embed Clearing LLC, have “solvent balance sheets, responsible management, and valuable franchises.”. To go ahead with the assets review, the bankrupt exchange has submitted motions before the bankruptcy court. It is asking for an interim relief that will allow the operation of a global cash management system and allow the company to pay critical vendors.
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