Bankrupt crypto exchange FTX’s new management is currently assessing proposals from three potential bidders in order to revive its trading platform, as reported by Bloomberg. The final decision on how to proceed will be made by mid-December, according to Kevin M. Cofsky, an investment banker from Perella Weinberg Partners, who made this statement during a recent court hearing in Delaware.
FTX is actively engaged in negotiations with these investors to discuss potential binding offers, which could take various forms, the report stated. These options include selling the entire exchange, which has a customer base of over 9 million, or collaborating with a partner to restart the platform. Additionally, FTX is also considering the possibility of rebooting the trading platform independently without any new partner. Kevin Cofsky, speaking to Bloomberg, mentioned that discussions are ongoing with multiple parties, although their identities were not disclosed. “We are engaging with multiple parties every day,” Cofsky said.
