FTX Exploring Sale or Recapitalization of Healthy Subsidiaries, According to New CEO

FTX Exploring Sale or Recapitalization of Healthy Subsidiaries, According to New CEO


The new CEO of bankrupt crypto exchange FTX says the firm is looking at the prospect of selling and recapitalizing some of its subsidiaries in the coming weeks.

In a new statement, John J. Ray, who replaced Sam Bankman-Fried, says that a review of the firm’s affiliated companies shows that some of FTX’s subsidiaries are still solvent with responsible management and “valuable franchises.”

Among the healthier companies is derivatives platform LedgerX and white-label brokerage services provider Embed Clearing, which is not included in the bankruptcy proceedings. 

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“It will be a priority of ours in the coming weeks to explore sales, recapitalizations or other strategic transactions with respect to these subsidiaries, and others that we identify as our work continues.”

The company says it is already

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