FTX, the collapsed cryptocurrency exchange once owned by Sam Bankman-Fried, has announced following its bankruptcy filing it will start paying staff again.
has announced this week that it has now resumed paying staff and contractors following its bankruptcy filing. , said Monday that "most FTX subsidiaries around the world are resuming ordinary course payment of salary and benefits to employees worldwide and ordinary course payments to certain non-U.S. contractors and service providers."
"With the Court's approval of our First Day motions and the work being done on global cash management, I am pleased that the FTX group is resuming ordinary course cash payments of salaries and benefits to our remaining employees around the world," added new CEO John Ray III. "We recognize the hardship imposed by the temporary interruption in these payments and thank all of our valuable employees and partners for their support.
The company said the relief "includes cash payments with respect to both pre-petition and post-petition periods, subject to limits for payment of pre-petition amounts established by the
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