On June 28th, Bankrupt FTX made a major effort to revive their international cryptocurrency exchange. According to Wall Street Journal, FTX CEO John Ray said the company has started the process to solicit new interested parties for the reboot of FTX.com.
The failed crypto firm is in talks with investors to relaunch the exchange through a joint-venture, as reported by the sources familiar with the negotiations. FTX’s debtors refused to comment on the reports.
In November, FTX was forced to file for Chapter 11 bankruptcy protection in the United States after its spectacular collapse, which had a major impact on the digital asset industry. The preceding days saw customers of the crypto exchange withdrawing billions, leading to a severe cash-flow crisis. Eventually, a rescue deal was brokered with a rival exchange, Binance.
This is not the first time the industry has been rocked by regulatory scrutiny. U.S. federal authorities have filed criminal charges against FTX founder Bankman-Fried for alleged fraud.
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