Bankrupt crypto exchange FTX is considering selling its European operations.
In a report on April 12th statementthe bankrupt company said FTX Europe AG, the holding company for its European operations, has filed a petition seeking a Swiss moratorium granted by a Swiss court.
According to the company, the moratorium will “expedite the investigation of strategic alternatives, including previously disclosed potential business divestitures, in accordance with U.S. Bankruptcy Court-approved bidding procedures.”
The bankrupt company added that a Swiss court has appointed an unnamed administrator for FTX Europe AG.
FTX EU launched a website to allow European customers to submit withdrawal requests in March. The bankrupt exchange noted that the moratorium would not change this process.
According to recent reports, a bankrupt cryptocurrency exchange allegedly stored the private keys of cryptocurrency wallets on Amazon Web Services (AWS). The report added that FTX used QuickBooks and Microsoft Excel to manage accounting across multiple entities in a “poorly organized and error-prone” manner.
Post-Swiss Court Allows FTX To Investigate European Business Sales, First Appearing On CryptoSlate.
