According to the new CEO, FTX is considering selling or recapitalizing its healthy subsidiaries.

The company is considering the possibility of selling and recapitalizing some of its subsidiaries in the next weeks, according to the new CEO of the bankrupt cryptocurrency exchange FTX.

A review of the firm’s linked companies, according to John J. Ray, who took Sam Bankman-place, Fried’s reveals that some of FTX’s subsidiaries are still solvent, with responsible management and “important brands.”

LedgerX, a platform for derivatives, and Embed Clearing, a provider of white-label brokerage services, are two of the stronger businesses that are not involved in the bankruptcy proceedings.

In the upcoming weeks, exploring sales, recapitalizations, or other strategic transactions with regard to these subsidiaries and others that we identify as our work progresses will be a priority for us.

The corporation claims that it is already making plans for the sale and restructuring of several of its operations. In addition, it has chosen Perella Weinberg Partners, a leading global provider of financial services with offices in New York, to serve as its principal investment bank, subject to court approval.

Ray claims,

“I humbly request the patience of all of our workers, vendors, customers, regulators, and government stakeholders as we put in place the arrangements that corporate governance deficiencies at FTX prevented us from putting in place prior to filing our Chapter 11 cases.”

This month, FTX filed for Chapter 11 bankruptcy after a wave of withdrawals caused it to become insolvent.