We are most likely going to see a relaunch of the international FTX exchange, suggests the new CEO
reboot. It previously attempted to acquire the rights to restart another failed crypto company, Celsius Network, but was outdone by a Fortress Investment Group-backed consortium.
One of the key hurdles is the recovery of the billions lost in customer funds. Unsurprisingly, this is proving to be a formidable challenge. An in-depth review of FTX's financial dealings unearthed questionable investment decisions, contributing to the enormous deficit in customer account balances. Despite the obstacles, a successful reboot of FTX would be a more favorable outcome for its customers than a complete shutdown. Notably, one of the largest pools of assets that could be distributed to customers is FTT, FTX's in-house token. These tokens, which customers used to pay for transactions and trade on the platform, would lose their use cases and value without the exchange.
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