FTX, a cryptocurrency exchange that filed for bankruptcy last month, sell its functional units, Includes US-based derivatives arm LedgerX. On Thursday, the exchange applied to the U.S. bankruptcy court for permission to sell several subsidiaries, including FTX Japan, FTX Europe and Embed Business. “Based on their preliminary investigation, the obligor owns or controls a number of subsidiaries and assets in the United States and abroad that are regulated, licensed, and/or poorly integrated into the obligor’s business.” “Debtors believe many of these companies have healthy balance sheets, independent management teams and valuable franchises,” the filing said.
