FTX is considering 3 solutions for its potential relaunch
- FTX, bankrupt, has received several offers for a possible relaunch.
- At least three bidders are considering buying the once-powerful exchange.
- A decision could be made by mid-December, with a proposal currently awaiting approval from the Delaware bankruptcy court.
FTX attracts investors for a buyout
According to Kevin Cofsky from Perella Weinberg Partners, the bankrupt cryptocurrency exchange FTX has received numerous offers for a potential relaunch. Cofsky revealed this information during a court hearing this Tuesday.
We have narrowed down the candidates from a large number to a smaller number in what we call our second round.
Kevin Cofsky
Three offers in the race
FTX, which once traded tens of billions of dollars per day, has at least three potential buyers ready to acquire the platform. A decision regarding the exchange’s future could be made by mid-December. The submitted plans will be presented for approval to the Delaware bankruptcy court. As part of his testimony, Cofsky has been granted permission to keep the list of over 9 million clients confidential, considering such information would be valuable to potential buyers.
Future perspective
While discussing liquidation options with interested parties, Cofsky remains optimistic about the path forward for FTX. He hopes to have either a plan for a reorganized exchange (FTX 2.0), a partnership agreement, or at least a preliminary buyout offer by December 16.
