{"id":72324,"date":"2023-01-10T14:17:50","date_gmt":"2023-01-10T12:17:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72324"},"modified":"2025-09-08T14:27:31","modified_gmt":"2025-09-08T11:27:31","slug":"ftx-subsidiaries-attract-117-potential-buyers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-subsidiaries-attract-117-potential-buyers\/","title":{"rendered":"FTX subsidiaries attract 117 potential buyers"},"content":{"rendered":"<p>About 117 potential buyers are interested in acquiring the subsidiaries of the FTX bitcoin exchange that are undergoing <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">bankruptcy proceedings<\/a>, according to <a href=\"https:\/\/restructuring.ra.kroll.com\/FTX\/Home-DownloadPDF?id1=MTQzNjc5Mg==&#038;id2=-1\">court documents<\/a>.<\/p>\n<p>According to the filing, the debtor is prioritising the sale of LedgerX, FTX Japan, FTX Europe and the exchange-clearing platform Embed. Kevin Coffey, a partner representing the exchange&#8217;s interests at investment bank Perella Weinberg, enumerated the reasons for this approach:<\/p>\n<ul class=\"wp-block-list\">\n<li>their relative independence;<\/li>\n<li>their potentially high value and the risk of losing it over time;<\/li>\n<li>the costs of supporting the operations of the enterprises;<\/li>\n<li>significant buyer interest.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cApproximately 117 entities, including various financial and strategic counterparties from around the world, expressed interest in the debtor\u2019s potential purchase of one or more companies,\u201d Coffey said.<\/p>\n<\/blockquote>\n<p>He said that 59 such non-disclosure agreements have already been signed.<\/p>\n<p>56 parties are vying for the LedgerX derivatives platform; Embed has 50 potential buyers, and FTX Japan and FTX Europe have 41 and 40 respectively.<\/p>\n<p>The U.S. Department of Justice&#8217;s bankruptcy division filed an objection to the sale of the debtor&#8217;s assets amid allegations of serious misconduct.<\/p>\n<p>In the response, FTX representatives assured that assets related <a href=\"https:\/\/u1f987.com\/en\/news\/us-court-unveils-charges-against-sam-bankman-fried\">to claims against former CEO Sam Bankman-Fried<\/a> and other former top executives would not be sold.<\/p>\n<p>Against the backdrop of the approaching deadline for submitting bids for the purchase of FTX&#8217;s assets, the creditors committee, in its filing, \u201ccautiously agreed\u201d to the sale. However, the group did not want to see haste in this process.<\/p>\n<p>In December, the Bahamas Securities Commission said it holds frozen FTX digital assets worth more than $3.5 billion.<\/p>\n<p>In January, U.S. prosecutors seized Robinhood shares worth about $456 million as part of the case against Bankman-Fried.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>About 117 potential buyers are interested in acquiring the FTX bitcoin exchange&#8217;s subsidiaries that are undergoing bankruptcy proceedings, according to court documents.<\/p>\n","protected":false},"author":1,"featured_media":72325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,1236],"class_list":["post-72324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bankruptcy","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72324"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72324\/revisions"}],"predecessor-version":[{"id":72326,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72324\/revisions\/72326"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72325"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}