FTX To Relaunch International Arm As Court Confirms Trial Date For Bankman-Fried

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Bankrupt cryptocurrency exchange FTX has begun talks to relaunch its international arm, according to a Wall Street Journal (WSJ) report on Wednesday.

The report stated that the exchange’s Chief Executive Officer, John J. Ray III, said the company “has begun the process of soliciting interested parties to reboot the FTX.com exchange.” 

John J. Ray III, who has been in charge of FTX since November, has been leading the company’s restructuring efforts following its bankruptcy filings. 

These efforts included the sale of FTX crypto derivatives platform LedgerX for $50 million and the proposed sale of the company shares in Mysten Labs Inc., currently valued at $95 million. 

Back in January, Ray had first mentioned the possibility of restarting the international arm of the exchange, stating that he had commissioned a task force to explore that possibility. 

FTX.com May Restart As A Joint Venture

The Wall Street Journal report states that FTX is exploring various options, including a joint venture, as it revives its international division.

Currently, there is interest from Figure, a blockchain company located in the United States, regarding the potential deal. However, the bankrupt exchange’s management is still waiting for additional signs of interest from other investors before the week’s end.