3 ms·
There are 130 (!) companies in the FTX group, across a whole slew of jurisdictions: https://i.redd.it/078p4g7m6cz91.jpg https://i.redd.it/078p4g7m6cz91.jpg Th
by rippercushions 4y ago
There are 130 (!) companies in the FTX group, across a whole slew of jurisdictions:
https://i.redd.it/078p4g7m6cz91.jpg https://i.redd.it/078p4g7m6cz91.jpg
The Chapter 11 filing is for the ones in the US, working out what this means for the rest is going to keep a whole lot of lawyers very busy for years.
- khuey 4y agoThe Chapter 11 filing is for pretty much the entire group including ex-US companies.
- adam_arthur 4y agoFTX US is also part of the filing, per SBF's tweet 1) Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US. https://twitter.com/SBF_FTX/status/1591089317300293636?s=20&t=KFeDCiMo96CL4yAMneY2Yw https://twitter.com/SBF_FTX/status/1591089317300293636?s=20&...
- koolba 4y agoThe sheer number of affiliated companies is not unusual in regulated industries as each tends to be a special purpose vehicle to segregate the associated assets and liabilities.
- michaelcampbell 4y agoIf I remember Boyle's video correctly, Goldman Sachs' equivalent structure was about 30 entities. This doesn't feel normal in any sense.