Bankrupt crypto exchange FTX is ready to resume operations

Bloomberg reports that FTX is considering three options for resuming operations: selling the platform, reorganizing with a partner, or doing it on its own. The company will make a final decision by mid-December.

According to Kevin Kofsky, a partner at Perella Weinberg Partners, representatives are in daily talks with all stakeholders. The initial offer could be made as early as December 16 this year.

Since the bankruptcy, FTX has been actively raising funds to repay its debts to creditors. According to court documents, the crypto exchange managed to recover losses of about $ 7 billion, of which $ 3.4 was in cryptocurrency.

During the hearing, lawyer Andrew Diederich said that the company had preliminarily settled the most difficult issues in the case. This will allow the platform’s representatives to provide a detailed payment plan to creditors in December.

Earlier, there was news that FTX representatives are planning to relaunch the infamous crypto exchange in the second quarter of 2024. In May, court documents revealed that the new head of FTX, John Ray, is actively working on this initiative.

As a reminder, it has recently become known where billions in cryptocurrency disappearedfrom the bankrupt FTX crypto exchange. It turned out that some of the assets were used to invest in Anthony Scaramucci’s SkyBridge Capital, Lily Zhang’s Modulo Capital, Robinhood, Dave, and Anthropic. In addition, $ 96 million of customer funds were spent on the purchase of real estate, including, according to court evidence, buildings owned by the parents of the former head of the crypto exchange, Сем Бенкман-Фрід" href="https://noworries.news/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried.