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FTX cleared to sell its assets

FTX can now also divest its European and Japanese subsidiaries to the more than 100 interested parties.

By Finst News
• 3 min read
FTX cleared to sell its assets

FTX can now also divest its European and Japanese subsidiaries to the more than 100 interested parties.

According to court documents in the FTX bankruptcy case the crypto exchange has now been granted permission to sell part of its assets. The sale of LedgerX and the Embed Technologies trading platform has been approved. Additionally, FTX is authorized to sell its global subsidiaries. These include FTX Japan and FTX Europe.

Proceeds will serve as compensation

The roughly 117 interested parties would thus have until February 1 to come forward to express interest in the purchase. The proceeds will then be used to compensate customers who suffered losses. The FTX trustees have so far seized roughly five billion US dollars in assets.

Together with the new divestitures, the exchange's customers would still have a chance to receive at least a partial payout.

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