- New York Stock Exchange (NYSE) President Tom Farley’s Bullish is one of three suitors bidding to relaunch FTX.
- A list of around 70 companies interested in restarting FTX was cut short to three platforms.
- Proof Group and Figure Technologies are the other two companies included in the list.
The auction and re-launch of the bankrupt crypto exchange FTX have been the buzz of the town recently. While FTX has received many proposals for a prospective relaunch, three suitors are leading the race, one of which being Tom Farley’s Bullish.
According to The Wall Street Journal, a prominent player in the FTX auction is the crypto trading platform Bullish, which is owned by former NYSE President Tom Farley. Colin Wu, a prominent blockchain writer, published a post on X naming the three companies seeking to lead an FTX relaunch.
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Despite the fact that around 70 companies expressed interest in managing the exchange’s relaunch, just three have been shortlisted. The three chosen suitors are Farley’s Bullish, the fintech and digital assets firm Figure Technologies, and the venture capital investor Proof Group. According to a court hearing, Perella Weinberg Partners investment banker Kevin Cofsky stated that a final decision would be made in December. He said,
“We’ve narrowed the field from a large number to a smaller number in what we’re calling our second round. I am optimistic that we will have either a plan for a reorganized exchange, a partnership agreement or a stalking horse for a sale, on or prior to the December 16 milestone date.”
In what we’re calling our second round, we’ve reduced the field from a large number to a smaller number. I am confident that we will have a plan for a reformed exchange, a partnership arrangement, or a stalking horse for a sale by the December 16 milestone date.
The rally’s winner firm might restart and rename FTX, potentially relaunching and expanding its services by next year. Customers may receive shares of the relaunched exchange or newly traded tokens to compensate for their losses, according to reports.
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