Three companies want to buy the bankrupt FTX; Negotiations could take place in December

The names of the three companies interested in purchasing FTX were released by The Wall Street Journal on Wednesday (8). According to the article, the deal could be completed as early as next month, in December.

With the news, the cryptocurrency FTX Token (FTT) rose 20% in a few minutes, standing out among other projects. Before that, FTT had seen three rallies this year (in January, April and June) with rumors of the FTX reopening.

While customers injured by FTX have been waiting for a year for reimbursement of their cryptocurrencies, the founder and former CEO was convicted of all seven charges he faced. Sam Bankman-Fried is still awaiting sentencing and faces up to 110 years in prison.

Among the possible buyers of FTX is the company of Tom Farley, former president of the NYSE

Rumors that they were interested in taking over the bankrupt FTX are not new. Last month, an employee revealed that the brokerage received around 70 proposals but narrowed this number down to just 3 companies, without revealing names.

However, the WSJ identified these three companies this Wednesday (8). Speaking further, he pointed out that the deal could even be completed before the end of the year, giving hope to the brokerage’s former clients.

The main highlight is the Bullisha cryptocurrency broker founded by Tom Farley, president of the New York Stock Exchange (NYSE) between 2014 and 2018.

The other two companies interested in purchasing FTX are Figure technologiesalso American, and the EvidenceGroupthat shows several investments in the cryptocurrency sector in its portfolio.

Although the values ​​of the possible negotiations were not made public, the WSJ pointed out that the new owners could abandon the FTX brand in order to separate the broker’s future from its dark past.

Before its bankruptcy, FTX was one of the largest cryptocurrency exchanges in the world. Therefore, buyers may be interested in the extensive user base, as well as the technologies.

FTX Crypto Rises as Sam Bankman-Fried Awaits Sentencing

With the reveal of the names interested in buying FTX, the FTX Token (FTT) rose by around 20% in a matter of minutes. Although FTX has been closed for a year, FTT is still one of the 250 largest projects on the market and continues to trade on other major exchanges such as Binance and KuCoin.

None of those interested in acquiring FTX have commented on their plans regarding cryptocurrency. Furthermore, FTX pointed out in its latest update that it would only pay for 90% of ongoing issues with its former customers.

FTX's cryptocurrency, the FTX Token (FTT), increased in value by 20% this Wednesday (8) after the names of possible buyers were revealed by the WSJ.  CoinMarketCap.FTX's cryptocurrency, the FTX Token (FTT), increased in value by 20% this Wednesday (8) after the names of possible buyers were revealed by the WSJ.  CoinMarketCap.
FTX’s cryptocurrency, the FTX Token (FTT), increased in value by 20% this Wednesday (8) after the names of possible buyers were revealed by the WSJ. CoinMarketCap.

Meanwhile, the founder and former CEO of FTX awaits sentencing. Last Thursday (2), Sam Bankman-Fried was found guilty of all seven charges he faced. His sentence could reach up to 110 years in prison, but experts believe the former billionaire could only spend 25 years behind bars.

Source: Live Coins

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