Business NewsRegulations News

FTX gets approval to sell LedgerX and other subsidiaries

According to a filing in Delaware Bankruptcy Court, in charge of the FTX bankruptcy, Judge John Dorsey gave his approval for the sale of four units of FTX.
FTX’s management had sought the approval of the court back on Dec. 15, saying they wanted to sell as soon as possible to avoid the assets losing in value. It was said earlier in the week that FTX had received unsollicited offers for the entities LedgerX, acquired by FTX in October 2021, FTX Europe, FTX Japan and stock-trading platform Embed. The European unit saw its licence suspended by the Cyprus SEC, while FTX Japan was asked on Nov. 10 to halt operations.

On the other hand, they also managed to recover $5 billion in liquid assets, along with $4.6 billion in non-strategic investments. The CFTC had estimated at around $8 billion the funds lost by customers in the collapse.

Stay ahead of the game with our Regulations News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.


Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button