FTX reboot on the way: CEO holds talks with ‘interested parties’ — Report

Cointelegraph
Cointelegraph

29 Jun 2023 1:31 AM

FTX CEO John Ray has opened up the bidding process for potential investors to participate in the financing of FTX 2.0 — the company’s next hope to ensure creditors are repaid. ...

  • Bankrupt crypto exchange FTX is in the process of relaunching as a new exchange.
  • FTX is soliciting interested parties to participate in the reboot of FTX.com.
  • Potential bidders have until the end of the week to submit Letters of Intent.
  • Current FTX creditors may be offered a stake in the reorganized exchange.
  • FTX plans to rebrand with a different name.
  • The launch of the new exchange is expected to be completed in Q2 2024.
  • FTX still has a $2 billion hole in its books.
  • Allegations of misuse of customer assets and fraudulent activities by FTX leadership have complicated the recovery process.

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What is the status of FTX's relaunch as a new exchange?How are potential bidders being involved in the reboot process?What compensation might current FTX creditors receive in the reorganized exchange?When is the expected completion date for the launch of the new exchange?What challenges has FTX faced in recovering missing funds and addressing allegations of fraudulent activities?

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