FTX is considering restarting the exchange in the second year of 2023 with the user funds it has saved.
The bankrupt exchange FTX has recovered some of the user funds while the court process is pending. The exchange is considering continuing its crypto trading services with the funds saved.
FTX May Restart Exchange With Recovered User Funds
FTX has announced that it is considering using the salvaged funds to reimburse customers to relaunch the crypto exchange. However, this process is stated to be in the stages of discussions as it requires a significant amount of cash in barter transactions.
FTX’s attorney, Andrew G. Dietderich, said in court that it is still in the early stages of deciding whether to bring back the exchange that allows customers to trade digital assets after FTX crashed.
The funds needed to restart the exchange can be obtained through investments from third parties or using some of the $7.3 billion worth of cash, crypto and other assets that FTX has so far raised. However, it is stated that these monies will be held until FTX gains final court approval for a creditor payment plan, and this process may continue until next year.
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