FTX Launches Strategic Review of Its Global Assets

Nov 20,2022
KingData News: FTX and approximately 101 additional affiliated companies, today announced that as a part of the Chapter 11 process, they are launching a strategic review of their global assets to begin to maximize recoverable value for stakeholders. The FTX Debtors have engaged Perella Weinberg Partners LP as lead investment bank and commenced preparation of certain businesses for sale or reorganization. The engagement of PWP is subject to Court approval. "Based on our review over the past week, we are pleased to learn that many regulated or licensed subsidiaries of FTX, within and outside of the United States, have solvent balance sheets, responsible management and valuable franchises," said Mr. John J. Ray, III. "Either way, 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."
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.
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