The European arm of collapsed cryptocurrency exchange FTX ( FTT-USD ) has received approval from a Swiss court to explore a potential sale, according to a release dated Wednesday. FTX's European business was formed just seven months before the once-mighty crypto exchange and its over 130 affiliates filed for bankruptcy protection in the U.S. last November. FTX Europe AG, the holding company of the FTX European unit, filed for a petition for a Swiss moratorium proceeding that was granted by the court on Tuesday. The court also appointed an administrator for FTX Europe AG, which is a debtor in the Chapter 11 proceedings. "Importantly, the previously announced process for confirming customer balances in preparation for allowing the withdrawal of funds from FTX EU Ltd. is unchanged by the Moratorium," the company said . At the end of March, FTX EU set up a website to pay back impacted customers .
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