TL;DR
Somebody needs to purchase again FTX and relaunch it.
The platform had/has 9 million customers. That is sufficient to maintain a really wholesome buying and selling enterprise.
BUT, reviving a model related to one of many largest monetary frauds of all time, simply over a 12 months after all of it went up in flames? Don Draper in his prime could not make it easier to there.
A call shall be made by mid-December as a part of plans to be submitted to the Delaware chapter court docket for approval.
Full Story
What’s crazier than SBF testifying in his personal trial?
Do this: somebody needs to purchase again FTX and relaunch it.
Okay, so the primary query is: “Why?”
Let’s preserve issues optimistic and begin with the professionals (yeah, they exist!):
FTX has managed to scrape collectively a cool $7.3B after going below, which is not any small chunk of change (even when they nonetheless owe $9B to their prospects).
The platform had/has 9 million customers. That is sufficient to maintain a really wholesome buying and selling enterprise.
FTX as a buying and selling platform was/is cutting-edge.
As for the cons…
Reviving a model related to one of many largest monetary frauds of all time, simply over a 12 months after all of it went up in flames?
Don Draper in his prime could not make it easier to there.
There’re in all probability a laundry listing of different cons, but when the brand new consumers cannot rebuild belief with prospects, there is no level speaking about them.
So, is that this really going to occur any time quickly?
Yeah, kinda.
No less than, a choice shall be made by mid-December as a part of plans to be submitted to the Delaware chapter court docket for approval.
Then we’ll see if we’re lastly achieved with all of this FTX drama or if we’re in for one more trip.
