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FTX Asks Court Permission to Sell Off Four Businesses, Including LedgerX

FTX's new leadership asked a federal bankruptcy judge for permission to sell off parts of the failed crypto empire’s business early next year — while those subsidiaries of FTX are still valuable.

Lawyers representing FTX filed a motion to begin an auction process for digital currency derivatives platform LedgerX, stock trading service Embed, as well as FTX Japan and FTX Europe. “The longer operations are suspended, the greater the risk to the value of the assets and the risk of a permanent revocation of licenses,” lawyers from law firm Sullivan and Cromwell argued on behalf of the company in a motion filed Thursday evening.

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