FTX 2.0 Bids Rejected, Sparking Debate About Recovery

Major FTX revival bids have been rejected by bankruptcy lawyers, casting uncertainty over the future of the cryptocurrency exchange. Three potential bidders – including Tribe Capital, Bullish, and Figure – aimed to revive FTX but were unsuccessful, potentially impacting creditor equity and sparking debate about asset recovery strategies. Arush, a prominent FTX creditor who participated in Tribe’s consortium, disclosed that these bids were rejected. The rejection raises concerns about lost value for creditors while emphasizing the need for clear paths towards financial recovery.