Thought It Was Over? FTX Might Be Coming Back To Life
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October 25, 2023 12:12 pm
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Thought it was all over for the FTX exchange?
The now-defunct exchange, while currently dead, could be revived by interested parties looking to restart the FTX exchange under new management.
According to sources, FTX has received at least three offers from investors looking to bring the fallen exchange back to life, but the question is, who’s buying? Who would actually use FTX if it were resurrected?
The answer to the first question is some of FTX’s former creditors, who see a potential revival of the exchange as the best way of recouping the entirety of their losses.
The answer to the second question remains to be seen and is highly dubious at best. Ask yourself if you would ever use FTX again after the disaster that transpired in late 2022.
Multiple outlets are currently reporting that FTX may come back, though we will not know until December of this year.
Exciting news! 🚀 FTX, the defunct exchange co-founded by Sam Bankman-Fried, is making a comeback. 📈 Multiple bids received for its revival. #CryptoRevival #SamBankmanFried pic.twitter.com/hv6gMnQLYu
— Crypto Insights Daily (@Mar88853Gregory) October 25, 2023
An FTX Revival??
FTX Could Restart Crypto Exchange in December, Negotiating With Three Bidders to Restart Trading 📷
What ya need to know:
— jared wolf 🪩 (@jar3dwolf) October 25, 2023
Coin Telegraph reports:
Several possibilities are being considered, including selling the entire exchange, which includes its extensive customer base of over nine million, to forming a partnership with another entity to revive the platform.
Cofsky has contemplated the prospect of FTX independently revitalizing its trading platform. However, the identities of the potential bidders have not been disclosed.
Coin Insights explained that FTX is wrestling with this choice: “FTX navigates post-bankruptcy, options reportedly encompass selling the entire exchange, including its extensive customer base of over 9 million, or forming a partnership with another entity to revive the platform.”
#FTX navigates post-bankruptcy, options reportedly encompass selling the entire exchange, including its extensive customer base of over 9 million, or forming a partnership with another entity to revive the platform
— CoinInsights (@coininsights_) October 25, 2023
One user asked: “So Block-Fi is coming back. And FTX is coming back too…Who [would] want to try them out again?”
So Block-Fi is coming back
And FTX is coming back too…Who want to try them out again …?
As #Crypto market goes higher, these fraudulent ones will come back asking for your assets… https://t.co/pdMMUShDiv
— SI_ Dani (@XRPDni1) October 24, 2023
Daily Coin explained:
According to Dietderich, FTX has arrived at a “preliminary resolution” with its creditors on a range of contentious disputes ahead of a proposed comprehensive payout strategy to be implemented by December.
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