Bloomberg: FTX's Bahamian entity has filed for bankruptcy protection

ChainCatcher news, according to Bloomberg, FTX's Bahamian entity FTX Digital Markets Ltd. has filed for bankruptcy protection under Chapter 15 of the Bankruptcy Code in the Southern District of New York. Chapter 15 of the Bankruptcy Code is designed to facilitate the bankruptcy of entities and assets that span multiple countries. The filing states that the debtor's assets and affairs will be controlled or supervised by foreign courts for the purpose of reorganization or liquidation. (Source link)