FTX was one of the biggest busts in the cryptocurrency world. The cryptocurrency exchange went bust after it misused customer funds, among other things. The liquidators overseeing the bankruptcy have now confirmed a special plan: FTX is coming back!
Bitcoin exchange FTX is making a comeback
The plan to relaunch FTX does not come out of nowhere. There have been some signs in recent months that the plan may be on the way.
Administrators have now confirmed the plan, according to a statement submission seen by CoinDesk. This shows that all creditors are divided into several groups.
For example, American lenders are one group and NFT exchange customers are also a separate group. Finally, each group will be offered its own solution to compensate for part of the damage.
For customers outside the United States, whodotcom customers” are mentioned, the relaunch of FTX.com was conceived. They may choose to opt out of a cash payment. Instead, they will receive a share in the new platform.
The customer group will thus have the opportunity to pool their assets to launch the new platform. This new cryptocurrency exchange will only be available to customers outside the United States.
The price of FTT cryptocurrencies skyrockets
Shortly after the news was announced, the FTX (FTT) token skyrocketed. Where the price previously traded around $1.30, the cryptocurrency peaked at $1.60.
This 23% increase shows that investors and traders have welcomed the news. The new exchange could eventually bring new value to FTT, although it is unclear whether the crypto will also be part of the new platform.
Wassielawyer, a lawyer with knowledge of the case, warns then also on Twitter: “Before jumping on FTT like a pack of monkeys based on FTX news; FTT gets nothing in FTX reboot plan.