FTX, with the user funds it has saved, is considering restarting the exchange in the second year of 2023.
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: FTXHe noted that the decision on whether to bring back the exchange that allows customers to trade digital assets after the crash is still in its early stages.
Funds required to restart the exchange, investments from third parties or FTX The $7.3 billion worth of cash that has collected so far can be obtained through the use of some of the crypto and other assets. However, these coins FTXIt is stated that a creditor will be held until it gains final court approval for a payment plan, and this process may continue until next year.
