FTX, the now-bankrupt cryptocurrency exchange, is gearing up to present an updated reorganisation plan to the court by mid-December.
The Official Committee of Unsecured Creditors has responded to the FTX 2.0 Customer Ad Hoc Committee, indicating the new plan aims to balance the interests of various stakeholders, especially unsecured creditors.
FTX, along with 101 affiliated companies, is undergoing a strategic review of global assets to maximise stakeholder value, pending court approval for certain actions, including engaging Perella Weinberg.
SEC Chair Gary Gensler has hinted at the possibility of a revamped FTX exchange receiving regulatory approval if it adheres to legal standards, amidst speculation about potential buyers like Tom Farley, former NYSE president.