FTX begins talks to relaunch worldwide cryptocurrency trade – WSJ

(Reuters) – Bankrupt FTX is shifting forward with efforts to revive its flagship worldwide cryptocurrency trade, the Wall Avenue Journal reported on Wednesday citing CEO John Ray.

The corporate “has begun the method of soliciting events to the reboot of the FTX.com trade,” Ray mentioned, in accordance with the Journal’s report.

The failed crypto firm has been holding talks with buyers about backing a possible restart of the FTX.com trade by way of constructions equivalent to a three way partnership, the report added citing folks conversant in the discussions.

Attorneys for FTX didn’t instantly reply to a Reuters request for remark.

In November, FTX filed for Chapter 11 chapter safety in america following its spectacular collapse that despatched shivers by way of the digital belongings business.

Within the days main as much as the failure, clients of Sam Bankman-Fried’s crypto trade withdrew billions of {dollars}, hobbling the agency’s liquidity. A rescue cope with rival trade Binance additionally fell by way of, precipitating crypto’s highest-profile collapse in recent times.

The business has since been reeling amid the scrutiny of worldwide regulators, whereas FTX founder Bankman-Fried faces a felony lawsuit by the U.S. authorities for alleged fraud.