FTX Considers Exchange Reboot After Recovering Billions in Assets
TL;DR Summary
FTX, the cryptocurrency exchange that collapsed in November, is considering reopening in the future as it navigates bankruptcy, according to its attorneys. One option discussed was to let creditors convert a portion of their holdings to a stake in a reopened exchange. The attorneys also reported that FTX has recovered $7.3 billion in liquid assets, up from January's $1.9 billion tally, but is still "far away from an equity distribution." FTT, FTX's token, surged in response to the news.
- Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges CoinDesk
- SBF called Alameda “unauditable,” joked about losing track of $50 million Ars Technica
- FTX has recovered $7.3B in assets, will consider rebooting exchange Cointelegraph
- FTX's Sullivan & Cromwell Legal Bills Show Potential Exchange Restart Signs Bloomberg
- FTX Used Hodgepodge of Apps To Manage Billions of Dollars in Assets, Including Crypto: New Court Filing The Daily Hodl
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