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John Ray III, who replaced SBF as CEO, noted that many of collapsed crypto group’s subsidiaries have ‘solvent balance sheets’. Ray cited two FTX US subsidiaries, Embed Clearing and LedgerX, as well as units in Japan, Turkey and the UAE as attractive assets. FTX’s US arm bought Embed Clearing, a brokerage tech and infrastructure provider, in June. It acquired LedgerX, a US derivatives platform, last October.
“Based on our review over the past week, we are pleased to learn that many regulated or licensed subsidiaries of FTX, within and outside of the United States, have solvent balance sheets, responsible management and valuable franchises,” said John Ray III.
https://www.ft.com/content/ecc6f488-f17d-4e0d-ab38-984d3e3ef5d5
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