According to a news statement, the bankruptcy petition includes FTX Trading, FTX US, Alameda Research, and over 130 additional firms under the FTX Group umbrella. Others, like FTX Australia and FTX Express Pay, are not part in the bankruptcy process. Filing for Chapter 11 bankruptcy does not always imply that a corporation is doomed – it permits a company to continue operating while it works out a plan to repay creditors. However, it is a difficult position to recover from.
