Just-In: FTX Delays Sale For Japan And Europe Subsidiaries
Beleaguered crypto exchange FTX extends the deadline to bid for its Japan and Europe subsidiaries amid efforts by administrators to raise funds for creditors.
Bidders are now informed about March 8 as the preliminary bid deadline for the scheduled auction on April 26, according to the court filing on Wednesday.
FTX Extends Bid Deadline For Japan and Europe Subsidiaries
FTX under CEO John Ray III received court approval in January to auction several FTX subsidiaries, including LedgerX, FTX Japan, and FTX Europe to pay back creditors.
According to a court filing on February 1, FTX filed with the U.S. Bankruptcy Court for the District of Delaware to extend the bid deadline and revised dates for sale of FTX Japan and FTX Europe.
The preliminary bid deadline is now March 8 and the bid deadline is April 19, with the auction date set to April 26. In addition, the sale hearing for the FTX Japan and Europe subsidiaries is on May 1.
Earlier, March 15 was set as the bid deadline, March 21 as the date of the auction, with March 27 as the date of the sale hearing for each of FTX Japan and FTX Europe.
Moreover, The Japanese subsidiary has started the procedure for returning client funds and is expected to return the assets to customers by this month. FTX Japan will not lose its licenses even if its owner changes, said Japan’s Financial Services Agency in January.
Sam Bankman-Fried Seeks His Funds
While FTX under new CEO John Ray III trying to return funds to creditors, former CEO Sam Bankman-Fried trying to communicate secretly to FTX officials and seek the return of his funds.
On Wednesday, U.S. District Judge Lewis Kaplan placed a temporary restraining order against Sam Bankman-Fried, preventing him from communicating with current or former employees of FTX and Alameda Research.
Also Read: Here’s Why February Could Be Rough For Ethereum (ETH) Holders
- Expert Explains Pi Network–Sign Meeting, Says It Could Trigger Binance Listing
- Is Trump Family, Mr. Beast Buying ASTER Token? Rumors Gain Strength
- Solana ETF Update: Grayscale, Fidelity, Others Files S-1 With Staking, Approval Expected in Two Weeks
- Cyber Hornet Seeks SEC Nod for S&P 500 and XRP ETF
- Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
