FTX businesses have landed on the radar of over 100 potential buyers.
According to a new legal filing, about 117 potential buyers are interested in acquiring FTX’s businesses and assets.
FTX Businesses Attract Buyers
FTX, which filed for bankruptcy in November, had more than 100 affiliates on file. It is estimated that the company owes its 50 largest creditors about $3.1 billion.
Lawyers representing FTX creditors in the bankruptcy process prioritized the sale of four businesses, including Embed, LedgerX, FTX Japan and FTX Europe.
Attorney Kevin Cofsk said last Sunday that the four entities are relatively independent of FTX and their value could decline during bankruptcy proceedings if they are not sold. Cofsky is a partner of investment bank Perella Weinberg Partner, which represents FTX USA and affiliates filing for bankruptcy protection.
Creditors signed confidentiality agreements with 59 of the 117 parties interested in purchasing FTX assets. According to the filing, about 50 parties are dealing with Embed, 56 with LedgerX, 41 with FTX Japan and 40 with FTX Europa.