First Mover Americas: Crypto Auditing Hits Snag

FTX, the crypto exchange that filed for bankruptcy last month, wants to sell its functioning units, including its U.S.-based derivatives wing LedgerX. On Thursday, the exchange petitioned a U.S. bankruptcy court for permission to sell several subsidiaries, including FTX Japan, FTX Europe and Embed Business. “Based on their preliminary review, the debtors own or control a number of subsidiaries and assets that are regulated, licensed and/or largely not integrated into the debtors’ operations, within and outside of the United States,” the filing said. “The debtors believe a number of these entities have solvent balance sheets, independent management and valuable franchises.”