On Thursday, cryptocurrency exchange FTX asked a federal court for permission to sell several subsidiaries, including US-based derivatives wing LedgerX. Attorneys for FTX stated in a document filed with the Bankruptcy Court of Delaware that it was a priority for the company’s current management to “explore” the sale or find other strategic transactions for certain subsidiaries. “Based on their preliminary review, the Debtors own or control a number of subsidiaries and assets that are regulated, licenced, and/or largely unintegrated into the Debtors’ operations, both within and outside of the United States,” according to the filing. “The Debtors believe that a number of these entities have solvent balance sheets, independent management, and valuable franchises,” according to the statement. These units include LedgerX, which also did business as FTX US Derivatives, FTX Japan, FTX Europe and Embed Business. Because the majority of these entities were acquired by FTX relatively recently, they functioned largely independently of their global parent. As a result, unlike some of the company’s other subsidiaries, their assets and funds are kept separate from FTX.