Features Crypto News by Thebittimes.Com

Former NYSE President’s firm competes with two others to acquire and relaunch FTX. According to reports from the Wall Street Journal, Tom Farley, previous head of the New York Stock Exchange, is among the top three bidders likely to purchase FTX and potentially relaunch the bankrupt exchange. This development could signal potential new beginnings for the troubled cryptocurrency firm. Alongside Farley’s enterprise, two other contenders are in the race: the innovative fintech company Figure Technologies and the specialist crypto investment entity Proof Group. The trio is in the final round to acquire and potentially revive FTX.  Near $500M in the voting block. December 16 is close. Equity? Anthropic? Join. https://t.co/IIqEW9AOb6 https://t.co/LLsekGOnEE — FTX 2.0 Coalition (@AFTXcreditor) November 6, 2023 Insiders report that over 70 expressions of interest were streamlined to the final three entities, although their identities were not disclosed in last mont...

Kraken co -founder Jesse Powell doubts FTX 2.0’s potential to bounce back from bankruptcy. In a tweet, he criticized the proposed recovery plan for the struggling exchange.  Powell believes starting from scratch would be a better option claiming FTX 2.0 lacks technology, licenses, banking, and has to deal with a damaged reputation.  The co -founder also suggests that the trustee in charge of FTX’s bankruptcy should auction the platform’s trademark and domain to the highest bidder. FTX 2.0 would be worse than starting from scratch. No team, no tech, no licenses, no banking, tarnished brand. The trustee should just auction off the domain and trademark to the highest bidder. Anything beyond that is simply a fee extraction attack on delusional creditors. https://t.co/l7JirsbwjP — Jesse Powell (@jespow) August 2, 2023 In his view, FTX 2.0 appears to be nothing more than a “fee-extraction assault on creditor fantasists.” He argued that even w...