Getting funds out of FTX could take years or even decades: Lawyers
The complexities that come with digital assets, cross-border insolvency and competing jurisdictions could add years to the timeline.
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The complexities that come with digital assets, cross-border insolvency and competing jurisdictions could add years to the timeline.
Not much is known about who these creditors could be, as names and personal information were redacted from the published document.
FTX debtors are in talks with finserv firm Perella Weinberg Partners for various sale or reorganization attempts. However, the engagement of PWP is subject to the bankruptcy court's approval.
The fall of FTX undoubtedly hurt investor sentiment toward crypto, but it won't change its popularity as a means for cross-border transactions.
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Some companies have resulted in layoffs to deal with their million-dollar losses.
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The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for…