FTX Creditors Committee Releases Announcement Regarding Re-operation of Exchange

Batik cryptocurrency exchange FTX’s “Official FTX Unsecured Creditors Committee” spoke about the possibility of a resumption of the exchange.

Stating that they are talking about all unsecured FTX creditors, the committee stated that they are advised by advisors, investment bankers, financial advisors and communications experts who are knowledgeable in digital, blockchain and crypto assets, as well as complex investigations and bankruptcy law.

Committee of Creditors Announces Restart of Failed Exchange FTX

In its statement, the committee said the following about the possibility of the exchange being operational again:

“The Committee is also, together with the Borrowers, assessing the practical, legal, economic and regulatory prospects for the relaunch of the FTX exchange as part of a wide-ranging effort to achieve maximum value for the benefit of general unsecured creditors.

In addition, the Committee will work with Borrowers to formulate, develop and implement a Chapter 11 plan for each of the Borrowers.”

In addition, the committee stated in its statement that they are also investigating the fraud-related transactions surrounding the exchange:

“The committee will also investigate various pre-litigation actions and potential fraudulent acts, consider and ultimately claim potential real estate litigation issues that could provide greater compensation for former insider and third-party unsecured creditors.

Our goal is, first and foremost, to maximize recoveries for FTX’s unsecured creditors, including the large number of clients that have been defrauded, among others.”

*Not investment advice.