FTX Will Study 3 Options to Relaunch the Exchange

FTX is currently considering three options for reorganizing its crypto exchange: partnering with another company, remaining independent, or finding a buyer.

According to lawyers handling the exchange’s bankruptcy proceedings, they have informed the presiding judge of these options. “I am aware that there are at least three interested parties in acquiring the platform,” said the judge.

Kevin Kofsky, a partner at Perella Weinberg Partners who is overseeing the sale process, stated that an initial acquisition offer may be submitted on December 16.

The exchange is exploring various options, he added. “We are involved in daily coordination with a number of stakeholders,” Kofsky said.

One topic of discussion is whether it is appropriate to disclose personal information about the exchange’s users.

“Immediately disclosing the names of the institutional clients would harm efforts to monetize the assets and reduce their value,” stated the exchange’s lawyers in a motion filed in September.

As of now, the list of clients is confidential. However, some individuals and the media have argued that it should be made public due to the company’s bankruptcy proceedings.

The judge has approved a ruling that allows information about clients to be kept confidential for the next 90 days.