FTX begins strategic review, seeks court relief to pay critical vendors

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Collapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses.

FTX, along with about 101 affiliated firms, also sought court relief to allow the operation of a new global cash management system and payment to its critical vendors.

FTX will explore sales, recapitalisations or other strategic transactions for some of its units, the company's new Chief Executive officer John Ray said in a statement. The exchange said that if it fails to receive the requested court relief, it will result in "immediate and irreparable harm" to its businesses.

 

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Democrats you mean?

Throw them to the wolves.

RichardHeartWasRight

Stay away from digital currency and don't allow our Gov't to switch to digital. It only benefits them.

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