According to a PRNewswire release on Nov. 19, FTX Trading has begun a strategic review of the group’s global assets after it and 101 affiliated companies, collectively known as FTX Debtors, filed for Chapter 11 bankruptcy. The review, according to FTX’s new CEO, John J. Ray III, aims to maximise recoverable value for stakeholders. Ray added that a review conducted over the past week revealed that many of FTX’s regulated or licenced subsidiaries, both within and outside of the United States, had solvent balance sheets, responsible management, and valuable franchises. The group will investigate sales, recapitalizations, and other strategic transactions involving its subsidiaries.
