• Around 117 parties have expressed an interest in buying units of FTX, as the crypto company’s bankruptcy case could take years.
• The estate has prioritized the sale of LedgerX, FTX Japan, FTX Europe and stock-clearing platform Embed, arguing they are the easiest to separate and have a risk of losing value if not sold quickly.
• A legal filing posted Sunday said that a deadline for initial bids is approaching.
As the crypto world continues to develop, so do the opportunities for investment. One such opportunity is the potential sale of various units of FTX, a crypto company that recently filed for bankruptcy. On Sunday, a legal filing revealed that around 117 parties have expressed an interest in acquiring units of FTX, as the deadline for initial bids approaches.
The estate has identified LedgerX, FTX Japan, FTX Europe and stock-clearing platform Embed as the easiest to separate from the company and has prioritized the sale of these units in order to avoid the risk of losing value if they are not sold quickly. These units have already attracted many potential buyers and the deadline for initial bids is now fast approaching.
The bankruptcy case itself could take years to be finalized, but the sale of the units is expected to move much faster. Potential buyers have already begun to express their interest in acquiring FTX units and the company’s estate is currently in the process of evaluating these bids. The sale of the units could provide a significant amount of capital to the estate and could provide a much-needed lifeline to the crypto industry in the years to come.
In total, around 117 parties have expressed an interest in the sale of the FTX units, with the legal filing noting that these parties are “various financial and strategic entities.” Further details about the potential buyers have not been disclosed, although it is likely that the list includes both institutional and individual investors.
The sale of the FTX units could also have a significant impact on the crypto industry and the wider financial markets. The proceeds from the sale could be used to finance further development in the crypto space, allowing for the creation of new projects and initiatives that could revolutionize the sector.
It remains to be seen whether the FTX units will actually be sold and who the eventual buyers will be. However, with around 117 parties expressing an interest in acquiring the units, the sale is sure to be a hotly contested affair. The sale of the FTX units could have a major impact on the crypto industry and will be worth watching closely in the coming months.