John Ray III, Sam Bankman-Fried’s successor, is on track to succeed in his mission at FTX. It consists in fact of save bankrupt crypto exchange since November 2022. To see the latest news, the company is preparing to making a strong comeback in the cryptocurrency sector. It is said that around 75 bidders are ready to support this. Decryption!
In short
- Over 75 Entities Showed Support for Getting FTX Back on Track
- FTX 2.0 could see the light of day by mid-2024
- The crypto community is closely monitoring developments
Bankrupt crypto exchange FTX has a good chance of reviving
The idea of seeing again FTX takes center stage divides observers. On the one hand, there are skeptics like Anthony Scaramucci, boss of Skybridge Capital, who rule out any possibility of revival of this crypto exchange, which has been bankrupt since November 2022.
“ I don’t see how they would restart. I don’t see the points to restart, frankly “, he said last April.
On the other, there is the clan of crypto influencer Loomdart who did not hesitate to create the coalition FTX 2.0 as a show of confidence in the current FTX administration.
Moreover, this administration itself has already unveiled an initial reorganization plan in early August.
“ A Recovery plan of the defunct cryptocurrency exchange FTX could see the light of day by mid-2024according to a court document, and more than 75 bidders have already been contacted about a potential transaction. »
L’Bloomberg article associated with this tweet talks about a plan to restart FTX for the year 2024. It also discusses the existence of 75 bidders contacted by the administration of John Ray III since last May. Digging through the document filed with a Dalware court, its reporter Emily Nicolle was able to find that its entities are currently the subject of a “ prior verification and information sharing “.
Furthermore, it should be mentioned that a deadline for any tender submission was imposed: next September 24.
“ The process is designed to consider various potential structures, including an acquisition, merger, recapitalization or other transaction to relaunch the FTX.com and/or FTX US exchanges “, we can read in the file.
Bidders concerned about the future of the crypto industry
According to Fortune, no name of bidder for the FTX crypto exchange restart plan has been disclosed at this time. But recent investigations by The Wall Street Journal have put forward the name of the blockchain technology company Figure in the list of interested parties. The venture capital company Tribe Capital may also be one of the bidders for FTX 2.0.
“ I can buy these TRX tokens over the counter. So, it’s all right. »
Translation of Rayan Selkis’ tweet associated with this post from TRON’s Justin Son:
“ We just published a quick overview of which assets to watch (and which are under the most stress or potential forced sales) ahead of potential FTX liquidations this Wednesday. »
We are not without knowing that FTX is about to mass liquidate its cryptocurrencies. All that remains is approval from the bankruptcy court. Tomorrow September 13, a prize of 200 million dollars in cryptos will flood the market in the event of a green light.
A situation that raises doubts among Justin Sun:
“ Currently considering an offering for FTX tokens and assets to reduce the impact of their sale on the crypto community. Let’s come together to strengthen our crypto ecosystem », he alerts on X (former Twitter).
Apparently there is hope to see FTT’s transmitter back on track soon.
Playing the hero by buying cryptos OTC is 100% Justin Sun. Remember what he did with Curve Finance when Michael Egorov was on the brink after over $50 million was hacked into his pools? In any case, what reassures us is the desire of the crypto community to protect entities in difficulty like FTX. As well as their love for the crypto industry itself.
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