FTX is negotiating with three bidders to restart crypto exchange

'We are engaging with multiple parties every day,' Cofsky said, without disclosing the names of the bidders.

FTX Trading is considering proposals from three bidders to restart trading on what had been one of the world’s biggest crypto exchanges before the company sank into bankruptcy amid fraud allegations. The company will make a decision about how to proceed by mid-December, the company’s investment banker, Kevin M. Cofsky of Perella Weinberg Partners, said Tuesday during a court hearing in Wilmington, Delaware. FTX is negotiating details of potentially binding offers with investors, Cofsky said.

We are engaging with multiple parties every day,” Cofsky said, without disclosing the names of the bidders. Since filing for bankruptcy last year, FTX has been trying to raise money to repay creditors. FTX’s administrators have so far recovered about $7 billion in assets, including $3.4 billion of crypto, according to court documents.

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