FTX has confirmed plans to relaunch its cryptocurrency exchange, but it will only serve offshore clients. The proposition filed by the bankruptcy administrators indicates that former FTT holders are not entitled to claim anything. Furthermore, FTX is looking to organize its creditors into different classes of claimants and hopes that one class of claimants will restart the exchange with third-party investors. FTX's CEO, John J. Ray III stated that the exchange is committed to emerging from bankruptcy and will file an amended plan and disclosure statement in the fourth quarter of 2023.

FTX has announced that it plans to relaunch its cryptocurrency exchange but will serve offshore clients only. The announcement confirms the recent filing of a proposition regarding the restart of FTX.com by the bankruptcy administrators. Former FTT holders are not entitled to claim anything under the plan.

The administrators are planning to organize the creditors into different classes of claimants. One class of claimants will have the opportunity to restart the FTX exchange with third-party investors, but a decision will have to be made by the group jointly. The CEO and Chief Restructuring officer of the FTX debtors, John J. Ray III, stated that the exchange is committed to emerging from bankruptcy, with an amended plan and disclosure statement expected to be filed in the fourth quarter of 2023.

The first group of claimants includes people associated with the FTX.com offshore exchange, followed by customers of the US exchange, its NFT exchange, general unsecured claims, secured claims, and subordinated claims. Under general claims, Alameda lenders are included, while subordinated claims include taxes and penalty fines.

Asset priority will be decided based on "waterfall priorities," according to the document, and former customers of FTX.com can create an offshore exchange company or a "rebooted" platform not available in the US by pooling their assets. The document also suggests that debtors can forgo cash payouts and instead claim a stake in the new exchange.