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FTX Unveils New Asset Review Programme
The collapsed FTX exchange and other related companies that filed for bankruptcy on Nov 11 has launched a strategic review of global assets. The firms have requested to operate its new cash management system. As per the filings at court, FTX has appealed the court to allow them to pay a petition claim of $9.3 million to vendors.
The reports claim that the largest financial position is held by FTX EU Ltd which holds nearly $49.4 million in cash. Whereas West Realm Shires Services Inc and other acquisitions of FTX hold nearly $48.1 million. The collapse of FTX and its related firms is one of the biggest crisis in the crypto industry