Bahamas Branch of FTX Filed for Chapter 15 Bankruptcy Protection

In the Southern District of New York, FTX Digital Markets, the Bahamas-based subsidiary of the long-defunct cryptocurrency exchange, has applied for Chapter 15 bankruptcy protection. The document, recorded late Tuesday night, comes after the designation of bankruptcy liquidators in the Bahamas earlier that day and the filing of a lawsuit of a similar nature for the exchange’s American affiliate, FTX.US, last Friday. Chapter 15 Bankruptcy Enable Business Scaling The process aims to enable the orderly scaling back of international businesses so that money may be restored to creditors as possible, which may include a large number of site regulars. The The post Bahamas Branch of FTX Filed for Chapter 15 Bankruptcy Protection appeared first on Cryptoknowmics-Crypto News and Media Platform .