[ad_1]
FTX and the authority handling its bankruptcy cases have extended the bidding deadline for auctioning Japanese and European businesses on embattled exchanges to March 8, 2023. The auction will take place on April 26, 2023, if all goes according to plan.
FTX gets a deadline extension
Disgraced FTX Sam Bankman-Fried has been granted approval for an extended bidding deadline for the sale of its Japanese and European businesses, which include LedgerX, FTX Japan and others.
Delaware bankruptcy judge John Dorsey authorized FTX to sell four of its subsidiaries last month to raise funds to pay off some of its debtors.
Per a court filing of February 1, March 8, 2023, now is the new deadline for the initial bidding for the exchange asset, which has already attracted great interest from over 100 entities worldwide, including Japan’s Monex Group, If all goes as planned, the auction will take place. on April 26, 2023.
Notably, John Ray III, the new CEO of FTX, who has so far recovered more than $5 billion in company assets, hinted that the exchange may be making a comeback. However, such a scenario remains unlikely at this time.
As recently reported by crypto.news, debtors FTX have asked the United States Bankruptcy Court for the District of Delaware to subpoena Bankman-Fried’s relatives to submit necessary records and information to assist the ongoing investigation.
Despite the severe FUD brought to the web3 space by the FTX story, SBF has so far denied any wrongdoing and new reports say the former billionaire is doing everything in his power to regain access to FTX funds.
Overall, the silver lining from the ongoing FTX scandal is that crypto market participants are now more aware of the risks inherent in the space, especially when it comes to centralized exchanges. Not your keys, not your funds.
[ad_2]
Source link
