FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30 to $2.35 per unit.
Lawyers Say FTX Is Considering a Reboot
Lawyers representing FTX debtors recently told the U.S. bankruptcy judge that they have been discussing the possibility of relaunching the exchange. Andrew Dietderich of Sullivan & Cromwell stated that there are various opinions being deliberated regarding the matter. The law firm has been investigating tax implications and “long-term options.” Additionally, the restructuring team has discovered $7.3 billion in liquid assets, and chief restructuring officer John J. Ray III and his team have published a 43-page interim report.
The report outlines several control failures in the area
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