The beleaguered FTX International exchange is still trying to keep its head above water. Its latest move has been to reassure some staff and subsidiaries that they’ll still get paid.
On Nov. 28, FTX Trading Ltd. (the parent company of FTX.com) stated that it was “resuming ordinary course payment of salary and benefits.” It added that this included 101 additional affiliated companies, otherwise known as its debtors.
Global employees and “certain non-U.S. contractors and service providers,” would see a resumption of ordinary course payments.
The move does not affect any staff or companies affiliated with FTX.US.
Bahamas and Australia Excluded
Newly appointed CEO, John Ray, said that the payments come with the court’s approval of its First Day motions. He added that work was being done on global cash management.
The payments were being made “subject to the limits approved by the Bankruptcy Court,” he added. The…
