The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration.
Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place the companies in voluntary administration.
Sam Blankman-Frieds crypto empire, previously valued at US$32 billion (A$48bn) has collapsed this week after market leader Binance withdrew a takeover offer after conducting due diligence on the business, saying our hope was to be able to support FTXs customers to provide liquidity, but the issues are beyond our contr…
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