Digital asset enthusiasts and former FTX users are eagerly awaiting news about the embattled exchange’s future. Recent court hearings shed light on FTX bankruptcy proceedings and its commitment to repaying customers, while ruling out any hopes of a reboot.
FTX Faces Uphill Battle in Bankruptcy Court
In late 2022, FTX, once a prominent digital asset exchange led by CEO Sam Bankman-Fried, filed for bankruptcy, sending shockwaves through the community. Fast forward to the present, and the exchange is navigating a complex Chapter 11 bankruptcy plan, with various challenges and uncertainties.
Andy Dietderich, the legal representative from Sullivan and Cromwell, who handles matters for FTX,…
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