Ftx Is In Talks With Three Different Companies To Reopen.

Former NYSE President Tom Farley's new company participated in the auction for the bankrupt cryptocurrency exchange FTX. FTX, founded by Sam Bankman-Fried, caught the attention of Farley's company.

FTX, which filed for bankruptcy in November, is now in talks to relaunch its operations.

According to a report by the Wall Street Journal, FTX's CEO, John J. Ray III, announced that they have initiated the process to request the relaunch of the FTX exchange from relevant parties.

Sources indicate that FTX is taking steps to potentially provide financial support for the relaunch process and engage with investors, including joint ventures.

The relaunch of FTX may also be combined with a rebranding strategy.

Among the companies willing to contribute to this relaunch process is the blockchain company Figure. Figure had previously offered a proposal for the relaunch of Celsius Network.

Parties interested in participating in this process or providing financial support will need to contact the company and its consultants within this week.

In January, Ray stated in an interview with the Wall Street Journal that despite the criminal activities that occurred at FTX, the exchange's fundamental business model is relaunchable and a structure has been established for that purpose.

There is currently no information regarding whether FTX's subsidiary, such as FTX US, will be relaunched.

FTX's current management believes that refunding customer funds is a more sensible option.

Thomas Braziel said, "Considering the recent sanctions imposed by the U.S. government on crypto companies and FTX's significant reputation loss, I view the relaunch of FTX as a rather challenging process."