Bankrupt crypto exchange FTX has received multiple bids for a potential restart, investment banker Kevin Cofsky of Perella Weinberg Partners said Tuesday during a court hearing.
At least three bidders are in the running to buy the exchange, which traded tens of billions of dollars a day at its peak.
A decision will be potentially made by mid-December, as part of plans to be submitted to the Delaware bankruptcy court for approval. Cofsky's testimony contributed to a successful bid to keep the platform's list of over 9 million customers secret, given that such information might prove valuable to a potential buyer.
“We’ve narrowed the field from a large number to a smaller number in what we’re calling our second round,” Cofsky said at the court hearing, referring to the parties with whom he's discussing wind-up options. “I am optimistic that we will have either a plan for a reorganized exchange, a partnership agreement or a stalking horse for a sale, on or prior to the December 16 milestone date.”
Ray has floated an amended proposal which could see 90% of whatever assets the estate manages to muster returned to creditors.
Jack Schickler contributed reporting.
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