- The rebooted exchange would be available only to offshore customers.
- FTXs advisors suggested giving no recovery on account of FTT tokens due to their equity-like characteristics.
We could see a potential reboot of the bankrupt crypto exchange FTX under a newly proposed plan.
FTXs bankruptcy administrators submitted a reorganization plan on 31 July that proposes to categorize its creditors into different classes of claimants. The proposal also includes a pathway for one class of claimants to restart the exchange with third-party investors. The rebooted exchange would be available only to offshore customers.
As per the proposal, the group of former FTX.com customers may choose to pool their assets to form what it calls an offshore exchan…
Read the full article at: https://ambcrypto.com/ftx-proposes-a-re-boot-of-its-bankrupt-exchange-for-offshore-customers/