FTX, the bankrupt crypto exchange led by Sam Bankman-Fried, has received numerous acquisition offers expressing interest in a potential relaunch.
FTX Receives Multiple Offers to Relaunch Despite Bankruptcy
This announcement was made during a court hearing by Kevin Cofsky, an investment banker from Perella Weinberg Partners.
According to Cofsky, at least three potential buyers have entered the race to buy the exchange, which at the peak of its activity facilitated tens of billions of dollars of daily trading.
A final decision on the fate of the exchange could be made by mid-December, once the plans are submitted for approval by the Delaware bankruptcy court.
Cofsky's testimony played a pivotal role in a successful bid to protect the privacy of the platform's extensive list of more than 9 million users.
This information is considered extremely valuable to potential buyers and underlines the importance of ongoing negotiations.
During the court hearing, Cofsky said: “In what we call the second round, we narrowed down the problems from a large number to a smaller number…
“I am optimistic that we will find a plan for a restructured exchange, a partnership agreement or a decision for a sale, on or before December 16,” he said.
*This is not investment advice.