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FTX’s Bankruptcy: AZA Finance Denounces Listing of Its Entities in Filing

AZA Finance, a worldwide monetary services company, has actually knocked FTX’s listing of 23 of its subsidiaries in its personal bankruptcy defense filing revealed on Friday. The forex fintech kept in mind that “our entities are not part of the FTX personal bankruptcy.”

Beleaguered Bahamas-based crypto exchange FTX on Friday divulged that the insolvency case consists of FTX.com, FTX.US, Alameda Research and “roughly 130 extra associated business.”

However, AZA Finance in a declaration launched late Friday kept in mind that “in its chaotic rush, FTX mistakenly noted our entities in their personal bankruptcy filing.”

Notice: AZA Finance & & our entities are not impacted by the @FTX_Official insolvency, nor by the occasions of this week. FTX are not investors in @aza_africa, E4F or other entities of ours – the distributing list/org chart is inaccurate. We stay steady, open, & & running generally. https://t.co/uvHtXn09 pu

— AZA Finance (@aza_africa) November 11, 2022

” I was stunned and dissatisfied to see that FTX called BTC Africa S.A. and other AZA Finance entities in its Chapter 11 insolvency filing today. To be clear: AZA Finance entities are not impacted by the FTX personal bankruptcy, and we are taking actions to fix the incorrect court filings,’ discussed Elizabeth Rossiello, CEO and Founder of AZA Finance.

@FTX_Official did NOT obtain @aza_africa or E4F – this list is inaccurate. We were partners ONLY and there was no shareholding. We are certified in several jurisdictions and our shareholding is public. Plainly FTX org chart is as untidy as the rest of it

— Elizabeth Rossiello (@e_rossiello) November 11, 2022

However, AZA Finance explained that FTX Africa is simply among its consumers as the latter utilizes its payment facilities to pay to a little number of clients in Africa.

The fintech business even more discussed that it participated in an industrial collaboration with FTX Africa to assist broaden web3 in Africa by developing a “managed, safe and affordable payment rails” for FTX.

” However, neither FTX nor any of its involved entities own or manage AZA Finance or our entities, consisting of BTC Africa SA. Our entities are not part of the FTX personal bankruptcy,” AZA Finance kept in mind.

The Entities

According to AZA Finance, its entities noted in the insolvency filing which are not part of FTX consist of B Transfer Services Limited UK, Exchange4Free Limited UK, BTC Africa SA, BT Payment Services Ghana Limited, BT Payment Services Nigeria Limited, BT Payment Services Uganda Limited, and BT Payment Services South Africa.

Others are TransferZero, B For Transfer Egypt, B Transfer Services Limited UAE, BitPesa Kenya Limited, BitPesa Senegal Limited, BitPesa South Africa, BitPesa Tanzania Limited, BitPesa Uganda Limited, BitPesa RDC SARL, and BTPesa Nigeria Limited.

Additionally, BTSL Limited Tanzania, Exchange4Free Seychelles, Exchange4Free Australia Br., Exchange4Free Swiss Br., Exchange4Free South Africa Br., and FinFax Company Limited, were likewise mistakenly consisted of, AZA Finance stated.

FTX was required to get personal bankruptcy defense following a liquidity crisis sustained by competing Binance’s choice to withdraw its $530 million FTX Tokens (FTT) from FTX, likewise the discovery that FTT made up the biggest single entry on FTX business brother or sister Alameda Research’s balance sheet.

The having a hard time crypto exchange made efforts to raise funds after Binance took out of a proposed offer to completely obtain its non-US operations prior to going with personal bankruptcy security in the United States.

AZA Finance, an international monetary services company, has actually knocked FTX’s listing of 23 of its subsidiaries in its insolvency defense filing revealed on Friday. The forex fintech kept in mind that “our entities are not part of the FTX personal bankruptcy.”

Beleaguered Bahamas-based crypto exchange FTX on Friday revealed that the insolvency case consists of FTX.com, FTX.US, Alameda Research and “around 130 extra associated business.”

However, AZA Finance in a declaration launched late Friday kept in mind that “in its chaotic rush, FTX mistakenly noted our entities in their insolvency filing.”

Notice: AZA Finance & & our entities are not impacted by the @FTX_Official personal bankruptcy, nor by the occasions of this week. FTX are not investors in @aza_africa, E4F or other entities of ours – the flowing list/org chart is inaccurate. We stay steady, open, & & running typically. https://t.co/uvHtXn09 pu

— AZA Finance (@aza_africa) November 11, 2022

” I was stunned and dissatisfied to see that FTX called BTC Africa S.A. and other AZA Finance entities in its Chapter 11 insolvency filing today. To be clear: AZA Finance entities are not impacted by the FTX personal bankruptcy, and we are taking actions to fix the incorrect court filings,’ described Elizabeth Rossiello, CEO and Founder of AZA Finance.

@FTX_Official did NOT get @aza_africa or E4F – this list is inaccurate. We were partners ONLY and there was no shareholding. We are certified in several jurisdictions and our shareholding is public. Plainly FTX org chart is as untidy as the rest of it

— Elizabeth Rossiello (@e_rossiello) November 11, 2022

However, AZA Finance explained that FTX Africa is simply among its consumers as the latter utilizes its payment facilities to pay to a little number of clients in Africa.

The fintech business even more described that it participated in a business collaboration with FTX Africa to assist broaden web3 in Africa by constructing a “controlled, safe and low-priced payment rails” for FTX.

” However, neither FTX nor any of its involved entities own or manage AZA Finance or our entities, consisting of BTC Africa SA. Our entities are not part of the FTX insolvency,” AZA Finance kept in mind.

The Entities

According to AZA Finance, its entities noted in the insolvency filing which are not part of FTX consist of B Transfer Services Limited UK, Exchange4Free Limited UK, BTC Africa SA, BT Payment Services Ghana Limited, BT Payment Services Nigeria Limited, BT Payment Services Uganda Limited, and BT Payment Services South Africa.

Others are TransferZero, B For Transfer Egypt, B Transfer Services Limited UAE, BitPesa Kenya Limited, BitPesa Senegal Limited, BitPesa South Africa, BitPesa Tanzania Limited, BitPesa Uganda Limited, BitPesa RDC SARL, and BTPesa Nigeria Limited.

Additionally, BTSL Limited Tanzania, Exchange4Free Seychelles, Exchange4Free Australia Br., Exchange4Free Swiss Br., Exchange4Free South Africa Br., and FinFax Company Limited, were likewise incorrectly consisted of, AZA Finance stated.

FTX was required to request insolvency security following a liquidity crisis sustained by competing Binance’s choice to withdraw its $530 million FTX Tokens (FTT) from FTX, likewise the discovery that FTT made up the biggest single entry on FTX business brother or sister Alameda Research’s balance sheet.

The having a hard time crypto exchange made efforts to raise funds after Binance took out of a proposed offer to totally get its non-US operations prior to choosing insolvency defense in the United States.

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