FTX US employees attempt to sell assets in CEO’s absence: Bloomberg

Quick Take

  • U.S.-based employees are trying to sell assets like a stock-clearing platform and naming rights to a Miami arena.
  • CEO Bankman-Fried has assured the public that FTX’s American branch is in good financial health.

Employees working for the U.S. arm of FTX's cryptocurrency exchange business are trying to sell company assets, in some cases without CEO Sam Bankman-Fried's “participation,” according to Bloomberg News, which cited two people familiar with the matter.

Pitched assets including stock-clearing platform Embed and the naming rights to an arena in Miami, the report said.

While FTX has descended into chaos in recent days after a failed takeover by rival Binance, the embattled crypto CEO has stressed that the American branch of FTX is separate from the global brand and in good financial health.

"FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow. It's 100% liquid. Every user could fully withdraw (modulo gas fees etc). Updates on its future coming," Bankman-Fried wrote in a thread Thursday.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

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