FTX, the crypto alternate that filed for chapter final month, needs to promote its functioning models, together with its U.S.-based derivatives wing LedgerX. On Thursday, the alternate petitioned a U.S. chapter court docket for permission to promote a number of subsidiaries, together with FTX Japan, FTX Europe and Embed Enterprise. “Based mostly on their preliminary overview, the debtors personal or management numerous subsidiaries and property which might be regulated, licensed and/or largely not built-in into the debtors’ operations, inside and out of doors of the USA,” the submitting mentioned. “The debtors imagine numerous these entities have solvent stability sheets, unbiased administration and helpful franchises.”