Bloomberg: FTX May Use Lender Funds to Reopen Exchange
Bloomberg reports that bankrupt cryptocurrency exchange FTX may use customer payout funds to restart its company. Sullivan & Cromwell attorney Andrew G. Dietderich told US Bankruptcy Judge John T. Dorsey that the exchange’s reopening is still under discussion. The company could also try to raise funding for a restart or scrap the entire concept, the lawyer added. In February, the law firm Sullivan & Cromwell billed FTX $13.5 million, including fees for analyzing “long-term options.”…
