The Wall Street Journal: FTX begins discussions with parties on the possibility of a restart, stakeholders need to submit letters of intent this week.

The Wall Street Journal reported that John Ray, the current CEO of FTX, has started negotiations with parties interested in relaunching FTX. FTX may undergo a rebranding, and compensation for former users may include offering equity stakes.

FTX May Rebrand and Restart

According to a report, FTX's current CEO John Ray has stated that discussions have begun with parties interested in relaunching FTX.

In January of this year, John Ray also emphasized to The Wall Street Journal that despite misconduct at FTX, users and stakeholders have shown that the exchange's business model is viable.

As a result, John Ray has been negotiating with investors since taking over, exploring the possibility of restarting FTX. FTX may undergo a rebranding, and compensation for former users may include offering equity.

Interest from Celsius Bidders

Reports indicate that the blockchain technology company Figure, under an investment group, is interested in relaunching FTX and has previously participated in the bidding for the bankrupt platform Celsius.

In addition, institutions interested in refinancing FTX and restarting the exchange must submit preliminary letters of intent to the restructuring team and advisors this week.

Regarding FTX.US, the restructuring team has not mentioned the possibility of a restart.

Previously, the bankruptcy reorganization tracking account @AFTXcreditor tweeted on June 15th that the sale process was underway, and bidders could take over the trading business. More details will be announced after the restructuring plan is released in July.

This seems to align with the statement that preliminary letters of intent for restarting must be submitted this week in terms of timing.