FTX Faces Bankruptcy Court Hearing Amid Financial Crisis 🏛️

FTX has its first hearing in a Delaware bankruptcy court on Tuesday. Its new management will outline the events leading up to the cryptocurrency exchange’s collapse and its measures to secure customer funds and company assets. FTX’s Chapter 11 filing has proven complicated for its lawyers, who are attempting to sort through the company’s assets. FTX did not have reliable bookkeeping or methods for tracking its crypto dealings.