FTX’s Bahamas unit seeks Chapter 15 bankruptcy protection

FTX’s Bahamas unit, FTX Digital Markets, is seeking protection from creditors in the United States under Chapter 15 of the US Bankruptcy Code, a court filing showed.

Such a move allows a foreign debtor to shield assets in the country. Non US-companies use the measure to block creditors who want to file lawsuits or tie up assets in the United States.