Will virtual currency exchanges reopen?
The crypto asset (virtual currency) exchange FTX, which filed for bankruptcy in November last year, has started discussions with investors to restart the global exchange “FTX.com”.
The reopening of the exchange could be a joint venture. FTX considers rebranding and restarting. It also plans to compensate certain existing customers by giving them shares in the new entity.
The above content was reported by the Wall Street Journal (WSJ) on the 28th as multiple sources of information. According to the WSJ, talks are in the early stages.
On the 28th, “BNN” reported that FTX CEO John Ray is preparing to reopen the exchange. It has been reported for some time that there are plans to reopen the exchange, but BNN is also independently reporting that it is “exploring options, including joint ventures.”
Blockchain firm Figure has already expressed interest in relaunching FTX, according to WSJ sources. Anyone wanting to fund FTX or participate in the reopening of the exchange will need to submit their interest in writing this week, multiple sources have revealed.
It is unclear whether the exchange will actually reopen. Due to the bankruptcy of FTX itself, the eyes of regulators on virtual currency exchanges in the United States and other countries are increasing.
connection: Severe shock in the virtual currency market, summary of Alameda shock and FTX turmoil
FTX’s own token, FTT, is priced at $1.72 at the time of writing (CoinGecko). It is 26.8% higher than the 24-hour period and 112.9% higher than the 2-week period.
What is FTX
Cryptocurrency exchange led by former CEO Sam Bankman-Fried. Since its establishment in 2019, it has rapidly made a name for itself and has grown into a major exchange after Binance, the largest exchange in the industry. After that, it went bankrupt and filed for bankruptcy in November 2022.
connectionUS District Court Denies FTX Sam’s Motion to Dismiss the Charges
connection: Seth Melamed, Chief Operating Officer of FTX Japan, to WebX
Movement toward reopening
As mentioned above, it was previously revealed that FTX was considering reopening the exchange. In April, a lawyer for the company told a court hearing that it was considering reopening.
Then, in the same month, it was reported that Tribe Capital, a US venture capital firm, was interested in rebuilding FTX. It is reported that the company and partner companies are considering leading a funding round of 250 million dollars (about 36 billion yen at the current rate), centered on 100 million dollars (about 14.4 billion yen at the current rate). ing.
connection: US VC Tribe Capital, proposal to invest in resuming FTX = report