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FTX Europe AG Receives Swiss Court Approval to Explore Strategic Alternatives and Potential Sale

Cointime Official

April 13 (Cointime) - FTX Europe AG granted permission by Swiss court to explore strategic alternatives, including a potential sale in line with U.S. bankruptcy court procedures, according to an FTX offcial announcement.

FTX Trading Ltd. (d.b.a. FTX.com) and its affiliated debtors, collectively known as the "FTX Debtors," announced that a Swiss court granted a moratorium for FTX Europe AG on April 11, 2023. The debtor's board of directors filed a petition for the Swiss moratorium proceeding (the "Moratorium"), which will allow FTX Europe AG to explore strategic alternatives, including the potential sale of its business.

"FTX Europe AG notes the Moratorium process will facilitate the exploration of strategic alternatives, including the previously disclosed potential sale of its business pursuant to U.S. Bankruptcy Court-approved bidding procedures. Importantly, the previously announced process for confirming customer balances in preparation for allowing the withdrawal of funds from FTX EU Ltd. is unchanged by the Moratorium." FTX Debtors wrote in a statement.

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