FTX Considering to Restart Exchange with Three Bids on Table

FTX is considering different options for the next step of the exchange, including selling the exchange, bringing in a partner to help restart the exchange, and relaunching the exchange on its own. There are three bids on the table now and FTX is negotiating with the potential buyers on details of the offers. The stalking horse bid (an initial bid) is expected to be announced by December 16.

At a court hearing on Tuesday, investment bank Perella Weinberg Partners' partner Kevin Cofsky, which explored restructuring and capital market opportunities for FTX, said, "We have been engaging in an outreach process with a number of interested parties to either acquire the legacy exchange assets and/or to partner with the debtors in connection with a launch of the exchange. We've been evaluating that process relative to the potential to reorganize the assets on a standalone basis."

In addition, according to FTX attorney Andrew Dietderich, the company had settled some of the most difficult disputes with its main creditor groups, and was able to file a detailed payout plan in December.

To learn more about FTX's reorganization, please read: FTX 2.0

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