FTX Trading, which is the entity behind the FTX.com trade, filed for chapter within the U.S. final November, whereas FTX Digital Markets, a Bahamas-based entity, entered liquidation proceedings the identical month. The joint provisional liquidators within the Bahamas and FTX Trading’s U.S. management had butted heads over the previous few weeks, alleging interference with their respective proceedings and arguing over jurisdictional points. FTX, which has dozens of subsidiaries and associated entities, launched a fancy chapter case when it filed, with branches in quite a few international locations. The U.S. and the Bahamas have taken the lead on truly working by way of the chapter course of to this point.
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