FTX’s creditors report on the possible relaunch of the exchange
More than 40 potential buyers intend to participate in the auction for the sale of the platform’s assets
20.03.2023 - 07:15
272
3 min
0
What’s new? Jefferies, a US-based investment firm, is in talks with potential buyers of FTXto relaunch the bankrupt crypto exchange. According to sources familiar with the matter, Jefferies is exploring alternative options to buy FTX and return it to the forefront of the cryptocurrency industry. The exchange’s creditors made the announcement on Twitter.
Jefferies is in contact with potential FTX bidder for restartShould attract huge interest in auction- 40+ bidders for just FTX JP => more for FTX intl- FTX accts (9.7m), 1.4m creditors: Most valuable asset- Financials support accts real + profitableRun a process: Mkt decide pic.twitter.com/h2G1PkLCPr — sunil (@sunil_trades) March 18, 2023
What else is known? According to FTX’s creditors, the auction should attract a large number of buyers, at the moment there are more than 40 bidders to buy the Japanese division of FTX and “more for” FTX International. The most valuable asset is the user base, which has 9,7 million accounts and 1,4 million creditors. In this, statistics show that the accounts are real and profitable.
According to Zhu Su, founder of bankrupt hedge fund Three Arrows Capital (3AC), the launch of FTX 2.0 will revive the market and provide a second opportunity for those users whose capital is stuck on the exchange.
FTX 2.0 will revitalize capital and give those with capital stuck a second chance@OPNX_Official https://t.co/uUotK8aSbk — Zhu Su 朱溯 (@zhusu) March 18, 2023
3AC founders to launch the world’s first exchange for trading debt tokens
The platform’s users will be able to monetize their claims against bankrupt companies
In January, FTX lawyers unveiled a full list of creditors, including Apple, Netflix, Amazon, Meta, Google, Microsoft, Twitter, BlackRock, Sequoia Capital, Binance, Coinbase and Circle, NYT, WSJ, and the US IRS.
At the time, FTX’s new CEO, John J. Ray, also announced a possible relaunch of the exchange. He said that some customers were positive about the initiative, despite the fact that the platform’s former management is under investigation for fraud.
Useful material?
Market
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024