FTX Is Considering Using Creditor Money to Restart Crypto Exchange
- Exchange would require significant amount of cash, lawyer says
- Discussions about exchange restart are still in early stages
Photographer: Andrey Rudakov/Bloomberg
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FTX may use money marked to repay customers to restart its failed crypto exchange because the project would require a significant amount of cash, a lawyer for the company said in court Wednesday.
The company is still in the early stages of deciding whether to bring back the exchange, which allowed customers to trade digital assets before FTX collapsed, Andrew G. Dietderich, an FTX attorney with law firm Sullivan & Cromwell told US Bankruptcy Judge John T. Dorsey. The company could also try to raise money to fund a restart or drop the entire concept.