VOT Research Desk
After FTX CEO Sam Bankman-Fried skipped a board meeting, the Australian subsidiaries of the troubled global cryptocurrency exchange FTX, FTX Australia and FTX Exchange, hired administrators, the Australian Financial Review reported on Friday.
One of FTX Australia’s three directors is named Bankman-Fried.
The KordaMentha administrators have started reviewing the crypto exchange’s records to see whether there are sufficient assets to repay local consumers after the local directors handed over control of the operations to them.
The company’s connection with its trading partner Alameda and Binance’s subsequent withdrawal from a proposed merger, the FTX empire finally came to an end.
