The post Australian Regulator Removing FTX Australia’s Financial Licence originally appeared on cryptomuskn Fintech News.
The Australian monetary firm’s regulator, ASIC, has revoked FTX Australia’s financial licence. FTX Australia is the native subsidiary of the bankrupt cryptocurrency exchange. With 132 local businesses and about 30,000 retail customers, FTX had financial difficulties that led to its filing for bankruptcy in November. When KordaMentha directors were hired to restructure FTX Australia and its subsidiary, they discovered an alleged theft of $8.7 billion in buyer property. FTX is now in talks with prospective funders to help with a potential relaunch of the change.
