TechFlow reported, according to Bloomberg, that FTX is in talks with three bidders to restart the exchange. Investment banker Kevin M. Cofsky said during a court hearing in Delaware on Tuesday that FTX will make a decision by mid-December. Cofsky stated that FTX is negotiating with investors over the details of potentially binding offers. Options include selling the entire exchange—containing a customer list of more than 9 million people—or bringing in a partner to help relaunch the platform. Additionally, FTX is also considering restarting its own trading platform.
Since filing for bankruptcy last year, FTX has been working to raise funds to repay creditors. Court documents show that FTX executives have so far recovered approximately $7 billion in assets, including $3.4 billion in cryptocurrency. Company lawyer Andrew Dietderich said in court that FTX has preliminarily resolved some of the most contentious disputes with its main group of creditors, which would allow the company to submit a detailed repayment plan in December.
