Will FTX be considered "relaunched" at the end of 2024?

Question

According to Reuters, attending a U.S. bankruptcy court hearing about the case, the possibility of rebooting/relaunching FTX is being discussed.

"As it looks to the future, FTX is negotiating with stakeholders about options for restarting its crypto exchange, and it may make a decision on that in the current quarter, Dietderich said.

It is not clear whether FTX should use its own funds to re-start the exchange, rather than using the money to repay customers, Dietderich said. Restarting the exchange might require outside funding or a sale of the exchange's assets.

FTX is also working on a preliminary Chapter 11 plan that would offer the company a path out of bankruptcy, Dietderich said.

FTX intends to file that plan by July, but it acknowledged that many details would have to be worked out as creditors fight for their share of the company's assets. FTX does not expect any Chapter 11 plan to be approved before the second quarter of 2024."

Manifold Markets · Accepted Answer

No — resolved on Jan 2, 2025 by Manifold Markets prediction market.