European customers could be paid out faster

Denver For days, customers of the collapsed crypto exchange FTX have been worried: the company is insolvent and access to the funds is blocked. Investigators accuse founder Sam Bankman-Fried of having siphoned off billions of dollars in customer money, among other things to offset losses from his hedge fund.

For some European customers, however, there could now be a glimmer of hope: the funds of the European subsidiary FTX Europe AG were not mixed with the rest of the company, as two insiders reported to the Handelsblatt.

According to the information, the European business was only relaunched in March. At that time, the FTX parent company took over the Swiss-based crypto group Digital Assets AG and expanded the new unit into its European subsidiary.