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FTX Recovered $7.3 Billion; Attorney Confirms Relaunch In Q2

After reports said monthly fee filings by FTX’s lawyers indicate relaunch, the exchange’s attorneys confirmed the same. Earlier, CoinGape reported based on monthly fee filings by FTX’s lawyers that relaunch was possible in second quarter. The FTX attorneys said on Wednesday that the crypto exchange had so far recovered $7.3 billion in assets. They also revealed plans to consider restarting the crypto exchange operations in the second quarter of 2023.

The new CEO of FTX, John J. Ray III, had earlier said efforts were on to reclaim value for creditors and consumers. CoinGape reported that latest documents around lawyer fee statements indicated possibility of restarting the exchange. A fee statement from February 2023 suggested that the company was working towards relaunching the exchange. Meanwhile, the FTX Token (FTT) price almost doubled with the news of the exchange’s revival plans.

(By Anvesh Reddy)

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