FTX revival's plan has failed

According to Reuters, FTX’s lawyer has confirmed that the exchange has ceased efforts to restart its platform due to a lack of investor interest. Nevertheless, FTX remains committed to fully refunding the amount to customers who suffered losses in the collapse of the exchange at the end of 2022.

The lawyer also revealed that many businesses acquired by FTX at prices in the hundreds of millions of dollars are currently without value and are not attracting attention from numerous investors. Additionally, he announced that FTX 2.0’s plan has failed due to a lack of capital.

FTX, formerly led by ex-CEO Sam Bankman-Fried, filed for bankruptcy at the end of 2022. A year later, Bankman-Fried was convicted of defrauding FTX’s customers, lenders, and investors.

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FTX has been identified as a scam, having taken money from investors.