According to TechFlow, John J. Ray III, CEO of crypto exchange FTX, led creditors in sharing plans to restart FTX. Last Friday, FTX released a list of parties that are allowed to sell company assets under Chapter 363 of the U.S. Bankruptcy Code.
According to documents released by the Delaware Bankruptcy Court on June 22, FTX's advisory firm Alvarez & Marsal published a list called "363 Selling Parties." This list lists entities interested in the FTX 2.0 relaunch and has been contacted and signed a confidentiality agreement to obtain more details about the reorganization and relaunch of the exchange.
This list includes many well-known companies such as Nasdaq, Ripple Labs, Galaxy Digital, BlackRock, Tribe Capital, Robinhood, NYDIG, and OKCoin, etc. However, this list is not an exclusive list of potential buyers or investors, but rather parties that are interested in the crypto exchange.
The FTX debtors plan to conduct the sales process in the third or fourth quarter of this year and select a "first bidder". It is likely that one of these companies will become the first bidder. The companies also plan to invest in FTX 2.0. The John J. Ray III team is working on the bid process letters, interested parties, market maker onboarding, and the relaunch of FTX Japan.
