FTX Europe Approved to Explore Sale by Swiss Court

Breaking News
Written By Jason Rowlett

BERN, CH – According to a Wednesday press release, FTX Europe AG has been approved by a Swiss court to explore a sale after filing a moratorium. The court also appointed an administrator for the European arm of FTX to monitor the process of confirming customer balances in preparation for allowing the withdrawal of funds from FTX EU Ltd.

The development indicates that FTX is taking active measures to restructure its business under its current CEO, John J. Ray III, and minimize the impact of its bankruptcy on customers. How a potential sale will impact the broader crypto industry and whether it will lead to further market consolidation remains to be seen.

Jason Rowlett

Jason is a Web3 writer and podcaster. He hosts the BCCN3 Talk podcast and YouTube channel and has interviewed several industry leaders at global Web3 events. An active crypto investor, Jason is a HODLer and advocate for the DeFi industry. He lives in Austin, Texas, where he rows competitively.

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