Proof Group in running to relaunch bankrupt crypto exchange FTX
Proof Group, a Silicon Valley investment firm that was part of the consortium that successfully bid for bankrupt cryptocurrency lender Celsius, is among the shortlist of three potential bidders to relaunch FTX, one of the largest crypto exchanges that collapsed almost a year ago. Other options being considered include selling the entire exchange and its customer list or bringing in a partner. A decision is expected to be made by mid-December. However, restarting FTX is not a straightforward process and there are various aspects of claims, token lockups, and compliance issues that need to be addressed.
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