Over 100 Entities Show Interest In FTX Units
According to a legal filing posted on January 8th, approximately 117 parties have expressed interest in purchasing FTX units as the deadline for initial bids approaches.
While the crypto company’s bankruptcy case could take years, the estate has prioritised the sale of LedgerX, FTX Japan, FTX Europe, and stock-clearing platform Embed, claiming they are the easiest to separate and risk losing value if not sold quickly.
As of the 8th of January, “approximately 117 parties, including various financial and strategic counterparties globally, have expressed interest to the debtors [FTX] in a potential purchase of one or more of the businesses,” according to a legal declaration signed by Kevin Cofsky, a partner at Perella Weinberg, the investment bank hired by FTX Group to represent the bankrupt cryptocurrency company.
So far, FTX has signed 59 confidentiality agreements, according to Cofsky. LedgerX, a derivatives arm of FTX US and one of the empire’s few remaining companies, leads the pack with 56 expressions of interest.
(Reporting by Shikha Singh, Editing by Laxmikant Khanvilkar)
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