Bankrupt FTX is moving forward with efforts to revive its main international cryptocurrency exchange. [File]
| Photo credit: REUTERS
Bankrupt FTX is moving forward with efforts to revive its main international cryptocurrency exchange, the Wall Street Journal reported on Wednesday, citing chief executive John Ray.
The company "has begun the process of asking interested parties to restart the FTX.com exchange," Ray said, according to the Journal report.
The failed crypto company has been holding talks with investors about backing a possible restart of the FTX.com exchange through structures such as a joint venture, the report added, citing people familiar with the discussions.
FTX debtors declined to comment on the report.
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In November, FTX filed for Chapter 11 bankruptcy protection in the United States following its spectacular collapse that shook the digital asset industry.
In the days before the failure, clients of the Sam Bankman-Fried crypto exchange withdrew billions of dollars, reducing the company's liquidity. A bailout deal with rival exchange Binance also fell through, precipitating the highest-profile collapse of cryptocurrencies in recent years.
Since then, the industry has been reeling amid scrutiny from global regulators, while FTX founder Bankman-Fried faces a criminal lawsuit from the US government over alleged fraud.
