FTX Japan Poised for Sale as Bankruptcy Process Begins

Nov 21,2022
KingData News: FTX Japan has cash and deposits of ¥19.6 billion (US$140 million) and equity capital of about ¥10 billion, disclosures show. It holds crypto assets for more than 100,000 customers, but has more assets than liabilities. The Japanese unit reportedly has been approached by at least one potential buyer through an investment bank. Parent company FTX Trading said on Saturday it was launching a strategic review of global assets following a Chapter 11 bankruptcy protection filing in the US.
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.