- FTX Exchange has managed to recover its $7.3 billion assets.
- According to reports, the exchange will return to the field in 2023.
- FTT Token has seen a sharp rise.
Is FTX Exchange Coming Back?
According to Reuters, bankrupt crypto exchange FTX plans to relaunch the exchange and return to the field in the second quarter of 2023.
#FTX WILL CONSIDER RE-STARTING IS CRYPTO EXCHANGE IN SECOND QUARTER -FTX ATTORNEY – RTRS
— CoinOtag EN (@coinotagen) April 12, 2023
At a hearing in the Delaware Bankruptcy Court on April 12, lawyers representing Sullivan & Cromwell for FTX said the crypto firm had recovered approximately $7.3 billion in assets.
With these reports, FTX’s token FTT saw a sudden rise in price, rising more than 120%.
A filing made by debtors in March reported that four FTX company silos had approximately $4.8 billion in planned assets as of November 2022 and that an investigation into the assets was ongoing.
According to the legal team, FTX will also consider restarting crypto exchange operations, which suggests an early restart as soon as April. FTX CEO John Ray had previously stated in a January interview that he was considering reviving the bankrupt exchange.
