FTX Trading and most of the group's subsidiaries have begun paying salaries to employees around the world and making payments to some contractors and service providers outside the United States.
According to FTX CEO John Ray, this became possible after the court approved part of the petitions regarding global money management.
FTX Group was able to pay merchants and service providers in the normal way for all services provided on and after the date of filing for bankruptcy.
In the Bahamas, this relief applies only to employees or contractors of debtors of FTX, and not to employees or contractors of FTX Digital Markets Ltd. The latter is the subject of local insolvency proceedings.
Also, the renewal of payments does not apply to employees or contractors of FTX Australia Pty Limited and FTX Express Pty Ltd, which are the subject of separate litigation in Australia.
Such news gives hope to ordinary users of the FTX site that they may be able to withdraw their own funds from this exchange.
Meanwhile, technically, a lateral flat movement has formed on the chart on the FTT exchange token against the dollar, which may potentially indicate a reaccumulation of the asset, followed by a movement against the majority’s expectations. This has happened many times in the cryptocurrency market.
However, until the situation with regulators is resolved and user funds are unlocked, trading in this asset is extremely risky. Big risks - big profit or big losses.
