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Tag: FTX Group

FTX Announced Strategic Review Of Assets And Prepare To Launch Sell-Off!

Bankruptcies Charlene Lensburg -
The FTX Group, with 101 additional affiliated companies (the "FTX Debtors"), announced that as a part of the Chapter 11 bankruptcy process, they are launching a strategic review of their global assets to begin to maximize recoverable value for stakeholders. The FTX Debtors have engaged Perella Weinberg Partners LP ("PWP") as the lead investment bank and commenced preparing to sell certain businesses and reorganization the new CEO, John j. Ray announced.

The U.S. Bankruptcy Deposition Of FTX And Its Consequences For FTX Europe Clients!

Bankruptcies Ben -
On Nov. 11, 2022, Sam Bankman-Fried's collapsed crypto exchange FTX filed for Chapter 11 bankruptcy in the U.S. to restructure. At the same time, Sam Bankman-Fried resigned as CEO, bankruptcy expert John J. Ray became the new CEO. On the same day, Cyprus regulator CySEC suspended the license of FTX (EU) Ltd. According to the U.S. filing, this Cypriot entity is included in the U.S. Chapter 11 petition for creditor protection. An interesting legal situation.

FTX Arrived In Cyprus: CEO Of FTX Europe Vanished From LinkedIn!

FinTelegram Charlene Lensburg -
A few days ago, Sam Bankman-Fried's FTX Group filed for Chapter 11 bankruptcy in the United States after billions in liquidity disappeared. Now FTX people are disappearing all over the world. In March 2022, FTX acquired the CySEC-regulated Investment Firm (CIF) K-DNA Financial Services Ltd to establish FTX Europe. Martha Lambrianou has served as CEO of the CySEC-regulated entity since 2017. She became the CEO of FTX Europe (see report). She deleted her LinkedIn profile and vanished.

FTX US Wins Bid For Assets Of Bankrupt Crypto Lender Voyager!

Bankruptcies Charlene Lensburg -
FTX US, part of the FTX Group of Sam Bankman-Fried, has won the auction for the assets of the bankrupt crypto lender Voyager Digital in a bid valued at about $1.42 billion. However, the Voyager claims against hedge fund Three Arrows Capital (3AC) will remain with the bankruptcy estate, distributing any available recovery on such claims to the estate's creditors. Voyager issued a notice of default for failing to make required payments on a loan of 15,250 bitcoin.

Interesting! UK Regulator Warns Against Sam Bank-man-Fried’s Crypto Exchange FTX!

FinTelegram Ben -
American Sam Bankman-Fried is currently considered the shooting star among crypto billionaires. Among other things, his FTX advertises in Formula 1 and claims to be one of the fastest-growing crypto exchanges worldwide. In 2021, the revenue of the crypto exchange soared by more than 1,000%, from $89 million to $1.02 billion in 2021. However, the UK regulator FCA is unimpressed and has issued a warning against FTX, saying that it is not authorized to target people in the UK.

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