Bankrupt crypto exchange FTX is chasing a series of preparations to restart the company. Here are the details!

FTX is considering a series of options to determine its future after bankruptcy. According to investment banker Kevin Cofsky from Perella Weinberg Partners, a definitive decision on the company’s future vision is expected to be announced by mid-December.

You might like: Rise In Announces Acquisition of BlockBeam!

What Will the Future of FTX Exchange Be?

FTX revealed during the court process in Delaware that it is making a great effort to evaluate various options. The platform is considering a range of possibilities, from a stock exchange sale involving a customer base of more than nine million, to revitalizing the platform through collaboration with another organization.

Kevin Cofsky stated during a court hearing that FTX is considering the possibility of independently revitalizing its trading platform. However, the identities of potential offer owners are still kept confidential.

FTX, which filed for bankruptcy last year, tried various strategies to repay creditors. According to court records, company executives recovered $3.4 billion of the $7 billion asset in cryptocurrency.

According to the company’s lawyer Andrew Dietderich, it has been reported that some complications with key creditor groups have been preliminarily resolved. This situation increases the chance for FTX to establish a comprehensive payment strategy by December.

While the future of FTX remains uncertain, these developments in the crypto world need to be closely monitored. The decision to be announced in December could have a significant impact on the future of both the platform and its customers.

In the comment section, you can freely share your comments and  opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.