Bankrupt FTX is considering selling its assets

John Ray, chief restructuring officer and new CEO of fallen cryptocurrency exchange FTX, wastes no time.

Eight days after being appointed to lead the restructuring of Sam Bankman-Fried’s empire, he sets out to liquidate the group’s assets.

Ray, who served as the bankruptcy trustee for insolvent energy brokerage firm Enron, just announced that he has hired an outside attorney to review FTX’s assets and decide how to proceed. The goal is to sell certain assets with the approval of the judges.

“FTX Debtors have engaged Perella Weinberg Partners LP as the lead investment bank and have begun preparing certain businesses for sale or restructuring,” Ray’s office said in a Nov. 19 statement.

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