FTX Group‘s subsidiary LedgerXfor use in parent company bankruptcy proceedings 175 milliondollars will be allocated.
The company, which rocked the crypto industry with a sensational impact at the beginning of the month, is struggling with restructuring and post-bankruptcy processes. FTX Group began to seek solutions to its creditors and grievances. As a result of filing Chapter 11 bankruptcy, the company’s assets and liabilities are audited. In the midst of these processes, FTX Groupwithin the LedgerX The step he took drew attention. Subsidiary to facilitate bankruptcy proceedings 175 milliondollar fund.
LedgerX, Within the FTX Group, Will Support the Bankruptcy Process
FTX Groupwithin the LedgerX, CFTCfor the arrangements 250 million received approval to use the dollar. Sub-company, this money 175 millionwill allocate his dollars to the bankruptcy process.
CFTCA spokesperson for LedgerXHe stated that the amount to be allocated by . can be used for the creditors. FTXof about 1 millionIt has creditors and billions of dollars in debt.
According to the reports, this amount to be allocated can be used immediately. FTXdue to bankruptcy LedgerX, CFTC had withdrawn its application for regulation. It is aimed to use the wasted money to facilitate the bankruptcy process.
