“Sino Global Capital pursues legal action against the now-defunct crypto exchange FTX, seeking $67.3 million linked to the Liquid Value fund. Though Sino’s direct financial vulnerability was moderate, the impact was notable. Talks about FTX’s revival, aimed at offshore clients, are gaining industry support despite potential risks.”
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Bankruptcy and Rebirth: FTX 2.0 Aims to Restore Value Amid Escalating Legal Costs
FTX’s bankruptcy filings reveal escalating legal and advisory costs totaling $121.8 million, prompting former clients to consider relaunching the exchange under new leadership. Spearheaded by crypto influencer Loomdart, the FTX 2.0 coalition aims to restore value to customers and expedite creditor repayment.
Reviving FTX: Airdropping Exchange to Users, Regaining Trust and Compensating Creditors
Loomdart, co-founder of eGirl Capital, proposes relaunching FTX to compensate creditors, enhance industry trust, and revive its once-thriving community. A new FTX version could incentivize previous users through an “airdrop,” while keeping disgraced founder Sam Bankman-Fried away from the venture.