Friday, 24 March, 2023

FTX and FTX DM (Bahamas) Agree to Coordinate on Bankruptcy Proceedings, Asset Recovery

<p>FTX, U.S. based bankruptcy team, have agreed to coordinate with liquidators winding down the crypto exchange&#39;s operations in the Bahamas. The dispute threatened the recovery of what could be billions of dollars in lost funds. John Ray, who took control of FTX after founder Sam Bankman-Fried resigned in November, had accused liquidators of colluding with him.A U.S. Chapter 11 proceeding was filed in Delaware, including more than 100 FTX entities including FTX Trading.</p> <p>&nbsp;</p>