The company has appointed Perella Weinberg Partners LP as its lead investment bank to help with the sale process.
Collapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses.
The exchange and its affiliates filed for bankruptcy in Delaware on Nov. 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars. The exchange said that if it fails to receive the requested court relief, it will result in “immediate and irreparable harm” to its businesses.
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The FTX contagion: Which companies were affected by the FTX collapse?Some of the firms affected include Genesis, Sequoia Capital, Galaxy Digital, and Galois Capital.
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FTX launches strategic review, seeks court relief to pay critical vendorsCollapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganisation of some businesses.
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FTX founder Sam Bankman-Fried was also prolific donor to Republicans: 'I have a duty'FTX founder Sam Bankman-Fried sent a significant amount of money to Republican candidates ahead of the midterm election in addition to the millions of dollars he donated to Democrats.
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FTX begins reviewing its assets as part of bankruptcy processThe FTX asset review will be spearheaded by a major New York financial services firm upon approval by the court.
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