Media release
KordaMentha appointed as Voluntary Administrators of FTX Express and FTX Australia
Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring were today appointed as Voluntary Administrators of the cryptocurrency businesses FTX Express Pty Ltd and FTX Australia Pty Ltd.
The directors of FTX Express and FTX Australia made the decision to appoint KordaMentha at a board meeting on November 11, 2022. KordaMentha has been advised that the decision to put FTX Express and FTX Australia into voluntary administration was undertaken by directors to protect the interests and assets of Australian clients.
Mr Langdon advised that 'KordaMentha is now in control of both FTX Express and FTX Australia. We are working cooperatively with the directors to confirm the status quo and will report back to all stakeholders. We appreciate the uncertainty this creates for customers of FTX and will report to all customers as a matter of urgency.'
All customers of FTX Express and FTX Australia are requested to not deposit funds or execute any trades until further notice. KordaMentha can confirm it has been in contact with the Australian Securities and Investments Commission, following its appointment as Voluntary Administrator.