According to bankruptcy cryptocurrency exchange FTX, a court in Switzerland has approved a petition allowing the firm to potentially sell its European business.
In an April 12 announcement, FTX said a Swiss court granted a petition filed by the board of directors for FTX Europe AG regarding a moratorium proceeding. As part of the legal process, FTX’s European arm would be allowed to “facilitate the exploration of strategic alternatives, including the previously disclosed potential sale of its business” in accordance with United States bankruptcy court.