FTX’s Bold Restart Strategy Sparks FTT Price Surge!

  • FTX, the bankrupt cryptocurrency exchange, has started talks with investors to relaunch its operations.
  • FTX is likely to rebrand as part of its comeback process and offer shares in the new company to investors.
  • FTT, the native token of FTX, experienced a significant increase in price following the news.

FTX in Talks with Investors to Relaunch Operations

FTX, the cryptocurrency exchange that caused billions of dollars in damages with its bankruptcy, is taking steps to make a comeback. According to a report by the Wall Street Journal (WSJ), FTX has started talks with relevant investors to discuss its return.

Rebranding and Offering Shares to Investors

Sources familiar with the matter revealed that FTX is seeking a joint venture to potentially relaunch its operations, and preliminary discussions are being held with interested investors. As part of the comeback process, FTX is likely to undergo rebranding and present itself under a new brand name. During the preliminary discussions, investors will be offered shares in the new company.

Support from Figure and Price Surge of FTT

Figure, a company focused on blockchain developments, is one of the parties eager to support FTX in its restructuring process. Figure has previously appeared in the restructuring plan of the bankrupt Celsius Network (CEL), but its offer was not sufficient to secure the bid.

Following the news, the price of FTT, the native token of FTX, experienced a significant surge. CoinGecko data shows that FTT has seen an 18% increase in the past 24 hours, reaching $1.43. Over the past week, FTT has shown a 48% increase, attracting attention from cryptocurrency enthusiasts. Currently, FTT is trading at $1.42.

In a statement, John J. Ray, the CEO of FTX, confirmed the talks with relevant parties for the relaunch of the exchange.

“We have started the process of discussing the relaunch of FTX exchange with the relevant parties.”

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Liquidation Alert: $1.745B Shorts at $116K and $1.701B Longs at $112K on CEXs

Coinglass data indicate that if Bitcoin trades above $116,000,...

US Stocks Open Higher: Dow +0.25%, S&P +0.37%, Nasdaq +0.45% — Nvidia +1% as COIN Leads Crypto Stocks

COINOTAG News reports that at the opening of the...

Ethereum Reserve Concept Stocks Surge in U.S. Pre-Market — ETHZilla +4.8% as Bit Digital Soars 84%

COINOTAG News on September 11 reported that Ethereum Reserve-themed...

MicroStrategy Rejected by S&P 500 — JPMorgan Warns This Could Curb Corporate Bitcoin Strategies

JPMorgan's recent analysis frames the MicroStrategy S&P 500 rejection...

U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%)

U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%) U.S. CORE CPI: +3.1%...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img