While still valuable! FTX seeks to sell 4 subsidiaries, including LedgerX and FTX Japan.

According to The Block's report, the new leadership at FTX has requested a federal bankruptcy judge to allow FTX to sell off some of its remaining valuable subsidiaries early next year. These subsidiaries include the derivative platform LedgerX, the stock trading service Embed, as well as two overseas branches FTX Japan and FTX Europe.

According to The Block's report, FTX's new leadership is seeking approval from a federal bankruptcy judge to allow FTX to sell off some of its remaining valuable subsidiaries early next year. The subsidiaries include the derivatives platform LedgerX, the stock trading service Embed, as well as two overseas branches FTX Japan and FTX Europe.

"The longer the suspension of operations, the greater the risk to the asset value and the risk of permanent license revocation," said FTX's representative lawyer.

Furthermore, the lawyer also stated that even though these subsidiaries operate independently and have the ability to pay, the longer the time they remain connected to FTX, the more they may continue to lose employees and good standing with regulatory agencies. Therefore, FTX's current top priority is to explore sales, capital restructuring, or other strategic transactions related to such subsidiaries and assets.

If the proposal is approved by the judge, the subsidiaries will be sold through an auction process, with the auction expected to take place in the first quarter of next year.