News Formal

Business Maverick: FTX Owned a Vehicle Fleet In the Bahamas. Liquidators Are Selling it for $2.4 Million.

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 84%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Liquidators in the Bahamas tasked with winding up the Caribbean outpost of Sam Bankman-Fried’s collapsed crypto empire are readying the sale of a vehicle portfolio as they seek to generate cash to return to creditors.

FTX Digital Markets Ltd. owned a fleet of vehicles used by employees with a book value of $2.4 million, according to a liquidators report issued on Friday. Joint Party Liquidators at Lennox Paton and PwC are looking at selling assets held by FTX’s Bahamian unit, from which Bankman-Fried ran the exchange before its dramatic collapse last year.

Selling FTX’s large vehicle fleet may be one of the more straightforward tasks faced by liquidators of the exchange. The first interim report issued since the company’s collapse belies the daunting task of untangling a fraught web of assets and connections at the heart of FTX’s global empire. Of the $219.5 million that FTX Digital held in bank accounts, approximately $44.8 million is stored with banks that the liquidators declined to name as they have yet to recover the funds for the estate.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Australia to remove China-made cameras from defence departmentAustralia’s defence department will remove all surveillance technology manufactured by Chinese companies Hangzhou Hikvision Digital Technology and Zhejiang Dahua Technology from its premises, the latest Western power to crack down on the technology giants.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: General Motors Competes for Stake in Vale’s Base Metals UnitGeneral Motors Co. is competing for a stake in Brazilian mining giant Vale SA’s base metals unit, people familiar with the matter said, underscoring automakers’ desire for easy access to the materials needed for electric vehicle batteries.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Cartoon Thursday with RicoShare to Facebook Facebook Share to Twitter Twitter Share to Email App Email App Share to WhatsApp WhatsApp Hide
Source: dailymaverick - 🏆 3. / 84 Read more »