According to a recent court filing, FTX CEO John J. Ray III spent several hours last month working on a plan to revive the now-defunct crypto exchange. Ray explored the necessary steps to restart the exchange, reviewed and finalized FTX 2.0 materials, sought assistance from cybersecurity firm Sygnia to enhance platform security, and examined a term sheet for restructuring the exchange as part of the plan. The new CEO also reviewed a list of bidders for FTX 2.0, including VC firm Tribe Capital, which reportedly expressed interest in leading a funding round to revive the exchange. Restarting the company would likely require raising capital, according to FTX's lead attorney.
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