Cryptocurrency markets are bracing for impact as FTX, the troubled crypto exchange that declared bankruptcy last year, nears approval for a massive $3.4 billion asset liquidation
In the meantime, the exchange is pursuing legal action against cross-chain service LayerZero Labs with the goal of recovering $21 million in assets.In spite of its precarious position, FTX appears to be eyeing a comeback. A Delaware court filing shows that more than 75 bidders have been approached to gauge interest in backing a restart of the failed crypto trading platform.
The deadline for new bids is set for Sept. 24. This relaunch could be a significant shot in the arm for a crypto market still reeling from FTX'sThe unfolding FTX saga comes amid growing investor anxieties and regulatory scrutiny in the rapidly evolving cryptocurrency market.
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