Crypto exchange FTX will ask a U.S. bankruptcy court on Wednesday to allow it to auction off pieces of its business and to keep customer names secret for at least six months while it works to recover funds lost in what was allegedly a huge fraud.
FTX will ask U.S. Bankruptcy Judge John Dorsey in Delaware to approve procedures for selling affiliates LedgerX, Embed, FTX Japan and FTX Europe as a way of raising funds for customers, who have lost potentially billions of dollars.
The crypto exchange has said it is not committed to selling any of the companies, but that it received dozens of unsolicited offers. FTX expects to generate additional bids by scheduling auctions in February and March. In addition to customer funds lost, the company's collapse has also cost equity investors potentially billions of dollars. Some of those investors were disclosed in a Monday court filing, including American football star Tom Brady, Brady's former wife supermodel Gisele Bundchen and New England Patriots owner Robert Kraft.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bankrupt crypto exchange FTX has recovered over $5-billion in cash and securities, attorney saysThe attorney also said that FTX plans to sell non-strategic investments that had a book value of $4.6-billion, although the company’s books have been described as unreliable
Read more »
Assessing the state of THORChain as it reaches new milestone post FTX collapseTHORChain’s TVL has rallied back to the position it was in before FTX collapsed. While RUNE’s price has grown in the last two months, its usage has declined. At $106.66 million, the total value of assets locked (TVL) within THORChain [RUNE], rallied back to the pre-FTX collapse level, data from DefiLlama revealed. Per DefiLlama, after […]
Read more »
Tom Brady, Gisele Bündchen, Patriots’ Bob Kraft among FTX shareholders facing wipeoutNew England Patriots owner Robert Kraft and star NFL star Tom Brady are among those sharing in the pain of FTX Group’s sudden implosion.
Read more »
Tom Brady, Gisele Bündchen, Patriots’ Bob Kraft among FTX shareholders facing wipeoutNew England Patriots owner Robert Kraft and star NFL star Tom Brady are among those sharing in the pain of FTX Group’s sudden implosion.
Read more »
Tom Brady, Gisele Bündchen, Patriots’ Bob Kraft among FTX shareholders facing wipeoutNew England Patriots owner Robert Kraft and star NFL star Tom Brady are among those sharing in the pain of FTX Group’s sudden implosion.
Read more »
Tom Brady, Gisele Bündchen, Patriots’ Bob Kraft among FTX shareholders facing wipeoutNew England Patriots owner Robert Kraft and star NFL star Tom Brady are among those sharing in the pain of FTX Group’s sudden implosion.
Read more »