FTX files for court relief to pay vendors, begins review of assets
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The collapsed crypto exchange FTX is preparing for the sale or reorganization of some businesses.
To do that, it has begun a strategic review of its global assets.
In addition, the company and about 101 affiliated firms, also filed a request for court relief to allow the operation of a new global cash management system and payment to its critical vendors.
FTX asked in a court filing on Saturday for permission to pay claims of up to $9.3 million to its critical vendors after an interim order and up to $17.5 million after the entry of the final order.
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