FTX för att starta om verksamheten med $7.3B i tillgångar

• It’s uncertain whether Ray and the new management team will pursue a relaunch.
• Sam Bankman-Fried kommer att ställas inför rätta i oktober efter att ha erkänt sig oskyldig till anklagelser om bedrägeri och kränkningar av kampanjfinansiering.
•  FTX’s debtors recently announced that a Swiss court had approved a petition permitting the sale of FTX Europe AG, the company’s European division. 
• FTX ansökte om kapitel 11-skydd i en amerikansk konkursdomstol, tillsammans med 133 andra dotterbolag, i november 2022.

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Det juridiska teamet som representerar FTX-gäldenärer hävdar att kryptovalutabörsen kan överväga att starta om verksamheten i framtiden. Advokater med Sullivan & Cromwell som representerar FTX vittnade vid en utfrågning den 12 april i USA:s konkursdomstol för District of Delaware att kryptovalutaföretaget hade fått tillbaka cirka $7,3 miljarder i likvida tillgångar.

Enligt en anmälan i mars från gäldenärerna hade de fyra FTX-företagssilorna cirka $4,8 miljarder i planerade tillgångar i november 2022, och en utredning om tillgångarna pågår fortfarande. Det juridiska teamet hävdar att FTX planerar att starta om börsen så tidigt som i april 2024.

In an interview with the Wall Street Journal in January, John J. Ray III, FTX’s new CEO, revealed that he was considering reopening FTX’s international exchange to recover value for customers and creditors. 

Ray has spent decades guiding businesses through bankruptcy, including Enron Corp. He labeled FTX, however, as the worst corporate governance failure he had ever witnessed. The exchange’s crash left creditors with claims of at least $11.6 billion, disrupted the market, and had long-lasting effects on the industry. A restart would be challenging in the face of those difficulties.

Bankman-Frieds grund för advokatarvoden ogillas

The bankruptcy judge also rejected a motion that would have authorized the court to prioritize paying Sam Bankman-Fried’s legal fees. The judge, however, left the possibility open for the embattled 31-year-old to later provide the court with proof relevant to the motion.

Domare John Dorsey förnekade motionen och sa:

Frankly, I have zero evidence to establish cause here. Mr. Bankman-Fried did not put out any evidence whatsoever as to the balancing of the equities here, what harm is going to occur to him. I don’t know what other insurance policies he has access to, I don’t know what other assets he has access to privately that would allow him to cover these costs and then recover them later under this policy.

En nyligen Rapportera by FTX’s debtors claimed the exchange’s downfall was mostly caused by poor management skills and control. The report revealed that Bankman-Fried has little or no measures to protect users’ funds and enforced strict measures against employees who oppose his views.

Den 31-årige tidigare FTX-VD:n väntar för närvarande på sin rättegång, som är planerad till oktober 2023.

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