Tribe

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/ftx-2-0-ftxs-comeback-plan-unveiled-revival-strategy-and-key-players/">FTX 2.0: FTX’s Comeback Plan Unveiled: Revival Strategy and Key Players</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In August, FTX unveiled its official plan for the international crypto exchange’s revival. This strategy allows creditors to unite and pool their claims to re-establish the platform. Two options are being explored: selling the entire exchange and transferring its nine million customers or forming a partnership. The decision on FTX’s future is expected to be made by mid-December.</p> 
<h2 class="wp-block-heading" id="strong-the-race-to-resurrect-ftx-strong"><strong>The Race to Resurrect FTX</strong></h2> 
<p>The revival of FTX is a complex process with various interested parties involved. One of them is Proof Group, a venture capitalist known for financing cryptocurrency initiatives, including Aptos, Lightspark, and Sui. Additionally, digital assets company Figure, previously a member of the NovaWulf group, has shown interest in reviving FTX. Tribe Capital, another venture capital investor, has also proposed.</p> 
<p>The FTX bankruptcy process involves claims, token lockups, and compliance issues. Rebooting the exchange is not a straightforward task. This complexity is exemplified by the bankruptcy of crypto lender Voyager, which attracted hopeful bidders but faced challenges in restructuring the firm and offering tokens to creditors.</p> 
<h3 class="wp-block-heading" id="h-compensation-and-legal-developments"><strong>Compensation and Legal Developments</strong></h3> 
<p>Notably, there has been no proposed compensation for FTX’s FTT token holders. In legal developments, Sam Bankman-Fried, the Founder and former CEO of FTX, was recently found guilty of seven counts of fraud, conspiracy, and money laundering after a five-week trial in New York. His sentencing is scheduled for March 28, 2024, and he faces potential decades in prison.</p>

FTX 2.0: FTX’s Comeback Plan Unveiled: Revival Strategy and Key Players

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