On November 19th, PANews reported that FTX co-founder Sam Bankman-Fried (SBF) retweeted a tweet from FTX creditor Arush. The tweet revealed that the bidding process for the FTX 2.0 relaunch project was quite different from Andrew Dieterich's claim that "no one wanted to buy FTX 2.0." Three reputable and well-funded finalists participated in the sale: Arj/Tribe and an undisclosed listed exchange; Bullish, owned by Tom Farley; and Figure, owned by Mike Cagney. These bidders all proposed deals including significant equity components, which, if successful, could have added billions of dollars to the assets of all FTX creditors. However, lawyers ultimately rejected these deals. This outcome surprised them, the public, and creditors. Arush pointed out that the FTX 2.0 bidders promised to tokenize their debt and operate this multi-billion dollar venture capital and cryptocurrency portfolio. Tom Farley or Mike Cagney were both suitable candidates to run the deal, but ultimately FTX's current CEO John Ray and the law firm Sullcrom called off the transaction.On November 19th, PANews reported that FTX co-founder Sam Bankman-Fried (SBF) retweeted a tweet from FTX creditor Arush. The tweet revealed that the bidding process for the FTX 2.0 relaunch project was quite different from Andrew Dieterich's claim that "no one wanted to buy FTX 2.0." Three reputable and well-funded finalists participated in the sale: Arj/Tribe and an undisclosed listed exchange; Bullish, owned by Tom Farley; and Figure, owned by Mike Cagney. These bidders all proposed deals including significant equity components, which, if successful, could have added billions of dollars to the assets of all FTX creditors. However, lawyers ultimately rejected these deals. This outcome surprised them, the public, and creditors. Arush pointed out that the FTX 2.0 bidders promised to tokenize their debt and operate this multi-billion dollar venture capital and cryptocurrency portfolio. Tom Farley or Mike Cagney were both suitable candidates to run the deal, but ultimately FTX's current CEO John Ray and the law firm Sullcrom called off the transaction.
FTX creditors: Three well-funded companies were shortlisted for the FTX 2.0 tender, but were rejected by lawyers.
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On November 19th, PANews reported that FTX co-founder Sam Bankman-Fried (SBF) retweeted a tweet from FTX creditor Arush. The tweet revealed that the bidding process for the FTX 2.0 relaunch project was quite different from Andrew Dieterich's claim that "no one wanted to buy FTX 2.0." Three reputable and well-funded finalists participated in the sale: Arj/Tribe and an undisclosed listed exchange; Bullish, owned by Tom Farley; and Figure, owned by Mike Cagney. These bidders all proposed deals including significant equity components, which, if successful, could have added billions of dollars to the assets of all FTX creditors. However, lawyers ultimately rejected these deals. This outcome surprised them, the public, and creditors. Arush pointed out that the FTX 2.0 bidders promised to tokenize their debt and operate this multi-billion dollar venture capital and cryptocurrency portfolio. Tom Farley or Mike Cagney were both suitable candidates to run the deal, but ultimately FTX's current CEO John Ray and the law firm Sullcrom called off the transaction.
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