FTX Trading Ltd. is considering proposals from three bidders to restart trading on what had been one of the world’s biggest crypto exchanges before the company sank into bankruptcy amid fraud allegations, Bloomberg News reported. The company will make a decision about how to proceed by mid-December, the company’s investment banker, Kevin M. Cofsky of Perella Weinberg Partners, said Tuesday during a court hearing in Wilmington, Delaware. FTX is negotiating details of potentially binding offers with investors, Cofsky said. Options include selling the entire exchange, including a valuable list of more than 9 million customers, or bringing in a partner to help restart the exchange, Cofsky told US Bankruptcy Judge John Dorsey. FTX is also mulling a reboot of the trading platform on its own, he said. “We are engaging with multiple parties every day,” Cofsky said, without disclosing the names of the bidders. Since filing for bankruptcy last year, FTX has been trying to raise money to repay creditors. FTX’s administrators have so far recovered about $7 billion in assets, including $3.4 billion of crypto, according to court documents.
