Bitcoin
Bitcoin (BTC)
$63,109.00 4.54106
Bitcoin price
Ethereum
Ethereum (ETH)
$3,369.85 4.94492
Ethereum price
BNB
BNB (BNB)
$562.69 4.15586
BNB price
Solana
Solana (SOL)
$153.96 5.8314
Solana price
XRP
XRP (XRP)
$0.5306680 0.17379
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.55418
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000098 7.00871
Pepe price
Bonk
Bonk (BONK)
$0.0000248 3.92775
Bonk price
Bitcoin
Bitcoin (BTC)
$63,109.00 4.54106
Bitcoin price
Ethereum
Ethereum (ETH)
$3,369.85 4.94492
Ethereum price
BNB
BNB (BNB)
$562.69 4.15586
BNB price
Solana
Solana (SOL)
$153.96 5.8314
Solana price
XRP
XRP (XRP)
$0.5306680 0.17379
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.55418
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000098 7.00871
Pepe price
Bonk
Bonk (BONK)
$0.0000248 3.92775
Bonk price
Bitcoin
Bitcoin (BTC)
$63,109.00 4.54106
Bitcoin price
Ethereum
Ethereum (ETH)
$3,369.85 4.94492
Ethereum price
BNB
BNB (BNB)
$562.69 4.15586
BNB price
Solana
Solana (SOL)
$153.96 5.8314
Solana price
XRP
XRP (XRP)
$0.5306680 0.17379
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.55418
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000098 7.00871
Pepe price
Bonk
Bonk (BONK)
$0.0000248 3.92775
Bonk price
Bitcoin
Bitcoin (BTC)
$63,109.00 4.54106
Bitcoin price
Ethereum
Ethereum (ETH)
$3,369.85 4.94492
Ethereum price
BNB
BNB (BNB)
$562.69 4.15586
BNB price
Solana
Solana (SOL)
$153.96 5.8314
Solana price
XRP
XRP (XRP)
$0.5306680 0.17379
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.55418
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000098 7.00871
Pepe price
Bonk
Bonk (BONK)
$0.0000248 3.92775
Bonk price

FTX reorganization plan announced, FTT rallies

ftx-reorganization-plan-announced-ftt-rallies
Edited by
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FTX reorganization plan announced, FTT rallies

The fallen cryptocurrency exchange FTX and its Unsecured Creditors Committee (UCC) announced its plan to reorganize and launch a new project called FTX 2.0.

On May 23, the exchange revealed its initial plan to relaunch the project with its new CEO, John Ray III. FTX has already filed the necessary documents to the US Bankruptcy Court of Delaware. 

Moreover, the exchange’s CEO has already confirmed to the FTX.com platform, the international crypto trading arm of FTX Trading Ltd. 

According to a tweet by an FTX creditor, the filing suggests that UCC has to appoint someone to run FTX 2.0 while hinting at a relaunch or recovery token. Per the tweet, the Committee has already requested the debtors to earn interest on their $2.6 billion cash holdings.

However, the recent filing suggests that the debtors have ignored the Committee’s plan. The creditor called John Ray III’s plan of not putting the “$2.6 billion cash in short-term treasuries” as “idiotic.”

Last week, representatives from FTX and the bankrupt crypto trading company Genesis disclosed to Judge Lane of the US Bankruptcy Court that both parties are ready to settle their legal case.

As the news around FTX’s reorganization plan emerged, FTX Token (FTT) witnessed a sudden spike in an hour.

FTX reorganization plan announced, FTT rallies - 1
FTT price – Aug. 1 | Source: CoinMarketCap

FTT is up by 7.65% in the past 24 hours, trading at $1.44 at the time of writing. According to data provided by CoinMarketCap (CMC), the asset’s 24-hour trading volume surged by over 400%, reaching $43 million.