a new CEOappointed and in the process of structuring FTXbegan examining its assets as part of the bankruptcy process.
Cryptocurrency exchange FTX entered into structuring after the declaration of bankruptcy. Old CEOSam Bankman-Fried ( SBF ), after he announced his resignation, first of all the management staff changed. Once upon a time, about $36 billionreaching a value FTX stock market bankruptcy. New CEO John J Ray stated that he spent a lot of time to solve the whole process. The company finally began to review all its assets as part of the bankruptcy process.
FTX Begins Asset Review Work
Cryptocurrency exchange FTXbegan asset review to pay creditors and reassert certain business interests.
Company, new Yorkbased investment bank and financial services company Perella Weinberg Partners LP ( PWP) manages the process. PWPbecame part of the cryptocurrency exchange’s Chapter 11 bankruptcy protection proceedings.
FTXThe company said in a statement, PWPHe stated that his contract was approved by the court. PWPtransaction confirmation, FTXrecognized as debtors 101 different will conduct an asset review of the company. As a result of these asset reviews, reorganization and sales opportunities will arise.
Also new CEO John J Raystated that asset reviews have been continuing since the beginning of the week.
