Failed crypto exchange FTX’s native token, FTT, is expiring upside volatility, recording important profits over today’s trading session. The token is reacting to the news of FTX’s potential relaunch.

As of this writing, FTT is trading north of $2 for the first time since February and could continue to reclaim previously lost territory. The token moved sideways for months, and today’s news was the first time it recorded positive price action.

According to a report from Reuters, FTX’s bankruptcy proceedings have been partially successful. The company’s new administration recovered $7,3 billion in fiat and digital assets, according to FTX attorney Andy Dietderich, that testified in a U.S. bankruptcy court hearing.

This amount represents an increase of around $1 billion in the company’s effort to recover its users’ funds. The failed crypto exchange is evaluating its options after spending months “collecting resources” and trying to figure out what went wrong under the previous administration, led by its founder Sam Bankman-Fried.(by Reynaldo Marquez)

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FTX Recovered $7.3 Billion; Attorney Confirms Relaunch In Q2