Crypto exchange FTX_Official received authorization to exclude its Turkish units from the company's estate in U.S. bankruptcy proceedings. iamsandali reports
in the country. FTX's new management in the U.S. argued it was unproductive to include FTX Turkey and SNG Investments – whose assets and activities are largely confined to Turkey – in the restructuring plans.
The court found the request is"in the best interests of" FTX and its estates. Parent company FTX Trading Ltd. owns 80% of FTX Turkey while SNG Investments is fully owned by FTX’s sister trading firm, Alameda Research.
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