JUST IN: FTX in Talks with Three Potential Bidders for Exchange Revival

Former crypto giant, FTX Trading Ltd., now grappling with bankruptcy due to fraud claims, is in advanced discussions with three potential bidders. Kevin M. Cofsky, the company’s investment banker, revealed in a Delaware court that decisions on FTX’s next steps, which could include an outright sale or a partnership for revival, will be made by mid-December. The exchange, with a customer base surpassing 9 million, is also considering a standalone reboot. Despite ongoing daily negotiations, bidder identities are yet to be disclosed. Following its bankruptcy filing, FTX has managed to recover around $7 billion in assets, with crypto assets comprising $3.4 billion.

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