FTX wants to sell these businesses fast, according to the court document, which indicated that some of the entities have had their operating licenses suspended following FTX’s implosion.
“The Debtors and/or the Businesses have been in active conversations with a number of regulators for the Businesses,” the filing said, adding that the licenses held by FTX Europe have been suspended and that FTX Japan are subject to the same as well.
“The longer operations are suspended, the greater the risk to the value of the assets and the risk of a permanent revocation of licenses,” the filing said.
FTX has received dozens of “unsolicited inbound inquiries” for the businesses, per the filing.
“A sound business purpose for the sale of a debtor’s assets outside the ordinary course of business exists where such sale is necessary to maximize and preserve the value of the estate for the benefit of creditors and interest holders,” the filing reads.
FTX’s new CEO, John Ray said it could take months to secure the collapsed exchange’s assets in congressional testimony earlier this week.
