Bankrupt Cryptocurrency Exchange FTX Plans To Pay Its Debts In This Way!

bankrupt cryptocurrency stock market FTX to repay creditors USA, Japan and EuropeIt sells its independently operating establishments in .

Cryptocurrency Exchange FTX Will Sell Four Affiliated Companies

bankrupt cryptocurrency exchange FTX filed a new request with the Delaware Bankruptcy Court yesterday to approve bidding procedures for the firm’s four independent subsidiaries.

The sale of affiliated businesses is seen as an attempt to raise funds to repay creditors to whom the company owes billions of dollars.

Bankrupt businesses must obtain court permission if the sale of assets is out of the ordinary course of business. According to the file, FTX is in the next two months. Embed Technologies, LedgerX LLC, FTX Japan and FTX EuropeHe wants to sell it.

While the request was planned to be discussed on January 11, 2023, the deadline for objection was set as December 29, 2022.

According to the proposal, the company should sell these companies as soon as possible. Long-term delays can significantly affect their valuation.

Recently, it was decided to establish a committee to represent FTX customers in the case. The creditors committee will not be limited to FTX, but will defend the rights of investors who have money in all subsidiaries.

Giant forced to file for bankruptcy protection cryptocurrency stock market of FTX founder and former boss Sam Bankman-FriedHe was arrested in the Bahamas hours before he was to testify before the Senate.

The SBF has been arrested by the country’s Royal Police due to a criminal complaint filed by American officials, according to a statement from the Bahamian Attorney General, Attorney General Ryan Pinder.

Pinder stated in his statement that as soon as an extradition request came from the USA, they would accept it and immediately transfer Bankman-Fried to the United States.

*Not investment advice.