Insolvent FTX Trading Ltd is taking proactive steps towards resurrecting itself, as the exchange is presently in talks with potential bidders with the aim of either selling the crypto company or forging strategic partnerships to possibly stage a comeback into the crypto market. 

FTX Aims For A Resurgence

Bankrupt crypto exchange FTX is making efforts to bounce back from insolvency and possibly restart its operations. According to Bloomberg reports, the exchange has disclosed three potential bidders emerging with their various proposals for the future of FTX.

Presently, there have been no reports revealing details on the identities of the investors and discussions are ongoing as the crypto exchange is carefully evaluating bidding offers. There are also various options FTX is currently considering, including selling off the entire crypto exchange for its worth in value despite its current reputation. 

This option would also include giving out the exchange’s valuable customer records which hold approximately over 9 million users. Another alternative is entering a partnership that would help relaunch the crypto exchange.  

In a court hearing in Wilmington, Delaware, Financial Investor and partner in Perella Weinberg Advisory business, Kevin M. Cofsky revealed that further proceedings regarding the resurgence of the insolvent crypto exchange will be conducted by December. 

As the negotiations and discussions continue, the crypto community, predominantly those affiliated with the crypto exchange, is watching closely. The results of the discussions will give more insight into the future of FTX and its position in the crypto space. 

FTT recovers amid talks of exchange rebooting | Source: FTTUSDT on Tradingview.com

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Author: Scott Matherson

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