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FTX discloses its relaunch plans, recovered $7.3 billion

The disclosure of this development caused a significant surge in the value of the FTT token

FTX is currently evaluating plans to relaunch its exchange while offering a stake to its previous customers. The FTX legal team also shared a comprehensive roadmap that includes anticipated deadlines for customer compliance, among other relevant information.

The revelation of this progress has led to a considerable increase in the market value of the FTT token, which is trading at $2.44 at the time of writing.

The legal team representing the debtors of FTX, a cryptocurrency exchange, stated during an April 12 hearing in the United States Bankruptcy Court for the District of Delaware that the firm had recovered approximately $7.3 billion in liquid assets. In a March filing, the debtors had reported scheduled assets of approximately $4.8 billion across the four silos of the FTX company as of November 2022, with an ongoing investigation into the assets.

The legal team further disclosed that FTX is contemplating the possibility of restarting its cryptocurrency exchange operations sometime in the second quarter of 2024. This suggests that the exchange may be rebooted as early as April of that year. FTX CEO, John Ray, was reportedly exploring the prospect of reviving the bankrupt exchange in a January interview.


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