The FTX CEO suggests plans for a restart of the stock exchange in the new remuneration report

The FTX CEO suggests plans for a restart of the stock exchange in the new remuneration report

plans to resume the bankruptcy cryptocurrency exchange FTX were confirmed in a new personnel and remuneration report, which was submitted to the US-American insolvency court for the Delaware district on Monday.

The document shows that the incumbent CEO John J. Ray III was involved in several activities for hours in April in order to work out a plan to revive the crypto exchange that has become difficult.

plans for FTX 2.0 in work

The CEO announced for the first time in January that a revival of FTX was on the table, two months after the stock exchange had collapsed due to a severe liquidity crisis. Ray, whose task it is to ensure that the creditors from FTX receive as much compensation as possible, pointed out that he would consider a restart or the liquidation of the assets of the stock exchange, which would create more value.

last month after FTX recovered around $ 7.3 billion in distributing assets, the lawyer of the stock exchange, Andy Dietderich, announced that the legal team would discuss further steps for a possible restart and plans to submit a provisional restructuring plan in July. He added that the plan is expected to be confirmed in the second quarter of 2024.

A few days later, reports appeared that the risk capital company Tribe Capital based in San Francisco is considering a fundraiser of $ 250 million in order to support FTX in resuming its business. Tribe reports that the round of $ 100 million of himself and limited partners. The company's CEO, Arjun Sethi, has already met with the committee of the unsecured creditors from FTX to discuss the agreement.

The latest court files indicate plans for a restart of the stock exchange, since Ray spent more than six hours in the past month to take care of appropriate matters. The activities include reviewing steps and materials as well as the commentary of the FTX 2.0 bidding list. The restructuring plan of the stock exchange would include a tender procedure.

a split crypto community

It is worth noting that reports on the revival of FTX are based on hypothetical statements and speculations that come from internal information, since neither Ray nor the committee of unsecured creditors have published a specific plan for the initiative.

While some members of the crypto-community

.