Market-making firm Auros filed to begin bankruptcy proceedings in the British Virgin Islands, court documents show.
According to Auros, on November 11, when FTX filed for Chapter 11 bankruptcy protection in the United States, about $20 million in company assets were frozen on FTX, and due to the freezing of these assets, Auros was effectively insolvent.
Auros is now seeking a court order of liquidation and has proposed Interpath Advisory as its liquidator.