FTX and its affiliates filed for bankruptcy in Delaware on November 11 in one of the Highest Profile Cryptocurrency Burstsleaving an estimate of 1 million customers and other investors That they face total losses of billions of dollars.
The company explore sales, recapitalizations or other strategic transactions for some units, said the The company’s new CEO, John Rayit’s a statement.
In a court filing on Saturday, FTX requested permission to pay pre-contest claims of up to $9.3 million to its critical suppliers after a provisional order and up to $17.5 million after final order entry.
The bag said that if you do not receive the requested legal aid, there will be “immediate and irreparable damage” to their businesses. “Based on our review over the past week, we are pleased to learn that many FTX licensed or regulated affiliates, both in the United States and abroad, have healthy balance sheetsresponsible management and valuable franchises,” said Ray.
the collapsed FTX cryptocurrency exchange said last week that detected “unauthorized transactions”while analysts said that millions of dollars in assets were removed from the platform. FTX’s fall dragged cryptocurrencies through one of their worst weeks.
Source: Ambito
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