The platform had been in operation for only about eight months prior to the collapse of parent FTX.
FTX Europe – the European subsidiary of the now-collapsed global crypto giant – has filed a petition for a Swiss moratorium proceeding, which was granted by a court on April 11th.FTX Europe Moratorium, the proceeding is expected to help the embattled company to explore strategic alternatives, including the previously disclosed potential sale of its business pursuant to US Bankruptcy Court-approved bidding procedures.
FTX EU confirmed that the Moratorium will have no impact on the previously announced process for confirming customer balances in preparation for allowing the withdrawal of funds from its platform.The venture was launched in March 2022, around seven months before the SBF-led FTX Group and its 130 affiliated companies officially filed for bankruptcy. It offered company products to European clients via a licensed investment firm across the region and was headquartered in Switzerland.
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