The on-chain activity of FTX Token (FTT) has surged after rumors of the collapsed crypto trading platform FTX's possible return upon its attorney's statements that it had recovered more than $7.3 billion in cash and liquid crypto assets. According to crypto market intelligence platform Santiment, FTT has seen 879 new addresses created over the previous two days, which is the largest amount since the collapse of FTX in November 2022, as well as a significant increase in trading volumes and a price hike on April 13. However, its trading volume and price have since declined, with FTT changing hands at the price of $2.02, down 14.06% on the day, and a drop in trading volume from 460 million FTT to the current 136 million FTT. Nonetheless, FTT's previous rally still managed to push its price to rise by 58.37% in the last seven days and 130% since the year's turn.

FTX’s token FTT experienced a pump and dump after the exchange’s attorney suggested in court that the bankrupt exchange could potentially be reopened.

FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30 to $2.35 per unit.

 During a court hearing on Wednesday, FTX’s attorneys from Sullivan & Cromwell revealed that the management is mulling over the possibility of reopening the crypto exchange in the second quarter of 2023 while it navigates through its bankruptcy process.

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.

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.

A charity founded by Ruairi Donnelly, a former FTX executive, is attempting to get back $30 million in locked funds from a frozen account held on the bankrupt exchange, The Wall Street Journal reported.

A former executive of FTX allegedly earned profits for a charity by purchasing discounted FTX tokens, FTT, before they became available to the public at $0.05 per unit, according to a report citing anonymous sources. Ruairi Donnelly, the former chief of staff at FTX, has been accused of donating the tokens to Polaris Ventures, a charitable organization based in Switzerland, which later sold the FTT for millions of dollars.