FTX Global Assets Strategy Review has started. John J. Ray III, FTX’s new CEO, said in a statement: “Based on our review over the past week, we are pleased to learn that many of FTX’s regulated or licensed subsidiaries in and outside the United States have solvent balance sheets.” , responsible management and a valuable franchise.
According to the statement, the FTX-related firm known as FTX Debtors has tapped Perella Weinberg Partners LP as the lead investment bank and has begun preparations to sell or restructure some assets. Ray stated: I have instructed the team at FTXDebtors to prioritize preserving franchise value as much as possible under difficult circumstances.
FTX debtors have filed various motions with the bankruptcy court seeking interim relief from the court, which, if granted, would run a new global cash management system and payment process. A hearing is scheduled for Nov. 22.
