New FTX chief says crypto group will pursue reorganisation or sale

Created By Fintech Team

Fallen cryptocurrency exchang,  FTX's new CEO, the company will endeavor to sell or reorganize its companies.

Ray took Sam Bankman-place Fried's as CEO, who had founded FTX, When a number of the group's subsidiaries sought bankruptcy protection

It took place as a result of the company's inability to process customer withdrawal requests totaling billions of dollars.

We will prioritize looking for sales and recapitalizations in the upcoming weeks. 

FTX requested the bankruptcy court's approval to pay outside vendors, which it claimed was necessary to maintain operations.

Software developers and businesses that offer crypto asset security and storage are some of these.

Voyager Digital and Celsius Holdings, two further well-known bitcoin businesses, have declared bankruptcy this year.