FTX attorney Andy Dietderich said the company is starting to think about its future after months of effort devoted to collecting resources and figuring out what went wrong under the leadership of indicted ex-founder Sam Bankman-Fried. Bankman-Fried has pleaded not guilty.FTX has benefited from a recent rise in crypto prices, Dietderich said. Its total recovery would be valued at $6.
As it looks to the future, FTX is negotiating with stakeholders about options for restarting its crypto exchange, and it may make a decision on that in the current quarter, Dietderich said. So far, FTX customers in Japan have been the only ones able to withdraw any funds so far, because of that country's relatively strong crypto regulations, Dietderich said.
FTX is also working on a preliminary Chapter 11 plan that would offer the company a path out of bankruptcy, Dietderich said.
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