FTX in talks with investors for a restart : FT

The new team behind FTX is currently discussing with interested parties for relaunch the crypto-bourse bankrupt, according to Financial Times.

Only 2 months after FTX’s collapse, its new CEO, John J. Ray III, was already estimating that a return of the platform was a possibility. In April, lawyers for FTX then presented a scenario for restarting the crypto exchange in court.

According to sources quoted this Wednesday by Financial Timesthe new management initiated discussions with the interested parties for a resumption of stock exchange activities despite its tarnished image.

Read:  Court gives green light to Binance's takeover of crypto lender Voyager

John J. Ray III confirmed that FTX had begun the “process of soliciting interested parties for the restart of FTX.com “.

According to people close to the matter, the operation would be carried out through “structures comprising a joint venture “.

FTX would probably change its name as part of any restart, they added, noting that “possible compensation” for some customers would take the form of shares in the new company.

Latest, Bloomberg reported that VC Tribe Capital was ready to invest up to 100 million dollars to relaunch the defunct exchange. Blockchain firm Figure is also said to be among the interested investors.

Read:  With Bitcoin ETFs, CoinShares dreams of becoming the BlackRock of crypto

Ex-exchange CEO Sam Bankman-Fried now faces a dozen charges, including fraud, in the US.

Earlier this week, FTX published a second report on misuse of funds of former users of the crypto platform. The latter owed around 8.7 billion to its customers before declaring bankruptcy.

To follow theCrypto news and Web3find RoyalsBlue.com on TwitterLinkedin, Facebook or Telegram

We were unable to confirm your registration.

You will receive an e-mail to confirm your registration (If you do not receive an e-mail, please check your spam folder).

The Best Online Bookmakers July 15 2024

BetMGM Casino

BetMGM Casino