FTX Can Cash Out $500M Investment In AI Biz To Fund Ch. 11

By Vince Sullivan · February 22, 2024, 6:44 PM EST

Insolvent cryptocurrency exchange FTX Trading Ltd. received a Delaware bankruptcy judge's approval Thursday to sell off its equity stake in an artificial intelligence technology company launched by former members of OpenAI...

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Bankruptcy Scorecard

Summary

Cryptocurrency exchange FTX filed for Chapter 11 on Nov. 11, 2022, after a rapid collapse in value.

Case Number

1:22-bk-11068

Judge

John Dorsey

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

Total liabilities are still to be determined, as a full plan has yet to be filed and FTX's tax liability is still being resolved. The IRS has filed a claim for $8 billion.

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Related Sections

Case Information

Case Title

FTX Trading Ltd.

Case Number

1:22-bk-11068

Court

Delaware

Nature of Suit

Date Filed

November 11, 2022

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