To assist with the sale or reorganisation of subsidiaries, FTX has appointed US-based Perella Weinberg Partners LP as its principal investment bank.

The team in charge of the defunct company's bankruptcy procedure announced on Saturday that FTX Trading will examine all of the assets held by the bankrupt cryptocurrency exchange globally.

According to a news statement, the "FTX Debtors," which are and around 101 subsidiary entities, are conducting a strategic examination of all of the global assets of the defunct business.

FTX analysis reveals several subsidiaries are financially stable.

The firms emphasised in the release that the exercise is a part of the larger Chapter 11 process and that it aims to maximise asset recovery and provide as much value as possible to FTX stakeholders.

These were the opinions expressed by John J. Ray III, the new CEO of FTX.

 Last Monday, Ray, a well-known bankruptcy attorney, succeeded Sam Bankman-Fried as CEO. In a statement released on Saturday, he said that the investigation will include the fact that some of FTX's companies were financially stable.

"We are glad to learn that numerous regulated or licenced subsidiaries of FTX, both inside and outside of the United States, have stable balance sheets, prudent management, and significant franchises," Ray stated.

As a result, several connected businesses, such Embed Clearing and LedgerX, which FTX acquired in 2022 as part of its acquisition binge, are not debtors. But there are other parties involved in the bankruptcy lawsuits as debtors, including the Japanese cryptocurrency exchange Liquid and FTX Turkey.

For its principal investment bank, FTX has chosen Perella Weinberg Partners LP as it seeks to sell some assets and restructure others. However, FTX's engagement with the investment banking advisor is subject to Court clearance.