FTT, the local token of the stock market, experienced a great rise after the bankrupt crypto exchange FTX announced that $ 7.2 billion in assets had been recovered so far and that the stock market could be active again.
There are positive developments on the FTX front, which filed for bankruptcy protection in November last year and negatively impacted the entire crypto industry. FTX lawyers Wednesday, April 12 day Bankruptcy Court for the U.S. District of DelawareAt the hearing held in $7.2 billion He stated that valuable assets were recovered.
According to the lawyers’ statement, FTX is planning to move forward as part of its broader plan. July It plans to present a restructuring plan in May. FTX, even when the restructuring plan is managed properly Before the second quarter of 2024 pending approval.
In the documents presented at the hearing $4.3 billion Class A cryptocurrency worth 2 billion dollars worth cash, 300 million dollars securities and 600 million dollars salvaged, including investment receivables $7.2 billion pen detailed.
With the public reflection of FTX’s plans to restart its operations, the local token of the stock market, FTT, which was virtually wiped out after the bankruptcy filing, was also positively affected. CoinGecko according to data per day from $1.32 traded FTTafter the developments 110%rising close to $2.74 reached until. FTT at the time of writing from $2.45 is being traded.
Although the FTX front has given signals that the stock market may reopen, a detailed plan must be submitted and the court must approve this plan for this to happen. On the other hand, the founder Sam Bankman-Fried and other senior officials are pending multiple cases.