FTX may yet have a chance to establish itself as a force to reckon with in the crypto space.
Plans to launch FTX 2.0 may gradually be shaping up after Wall Street investment firm, Jefferies, confirms that it is in talks with a potential buyer for the failed FTX exchange. If all goes according to plan, the exchange is expected to resume operations after being shut down by regulators.
Bankrupt FTX Exchange to Relaunch as FTX 2.0
According to sources familiar with the situation, Jefferies has been weighing various options regarding the sale of FTX. But now, it appears that talks have entered into advanced stages with one undisclosed buyer.
The deal, if it goes through, is expected to revive FTX from the ashes and set it right on track to be at the forefront of the cryptocurrency industry once again.
Recall that many users saw their funds locked in the FTX collapse. However, according to Zhu Su, a co-founder of the bankrupt crypto hedge fund 3AC:
“FTX 2.0 will invigorate capital and provide people whose capital is stuck with a second opportunity.”
More so, considering that the development comes at a time when the cryptocurrency sector is seeing increased popularity and growth, FTX may yet have a chance to establish itself as a force to reckon with in the field.
Despite the massive potential, there are many opposing views to the FTX 2.0 idea as well. But that may be largely due to the FTX collapse in November 2022 that sent shock waves throughout the entire crypto market.
Jefferies Aims to Explore Blockchain and Digital Assets
Meanwhile, Jefferies’ business with FTX is a mutually-beneficial one. For one, the financial services expert hopes to help restart FTX. However, it is also interested in tapping the potential of the bitcoin market. To this end, the bank has recently been employing individuals with good knowledge of the blockchain industry and how digital assets work. Therefore, by partnering with the FTX bidder, Jefferies will not only portray itself as a prominent advisor but also expand its footprint in the crypto space.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
He’s a reader, a researcher, an astute speaker, and also a budding entrepreneur.
Away from crypto however, Mayowa’s fancied distractions include soccer or discussing world politics.