Kenne Michael 
After going through bankruptcy proceedings, FTX is cautiously considering its future.
During a court hearing in Wilmington, Delaware, Kevin Cofsky, the company’s investment banker from Perella Weinberg Partners, disclosed that a decision regarding the company’s direction would be made by mid-December, according to a report by Bloomberg.
Moreover, active negotiations are currently proceeding with several investors regarding potentially binding offers.
Several options are being considered, such as selling the entire exchange, including its vast customer base of more than nine million, or forging a partnership with another entity to revitalize the platform.
Cofsky has considered the possibility of FTX revitalizing its trading platform on its own. However, the identities of the prospective bidders remain unknown.
After declaring bankruptcy last year, FTX has attempted to raise funds for creditor repayment.
According to court documents, FTX administrators effectively recovered approximately $7 billion in assets, including $3.4 billion in cryptocurrency.
In addition, the company’s attorney, Andrew Dietderich, reportedly disclosed during court proceedings that certain complex disputes with key creditor organizations have reached a preliminary resolution.
This development permits FTX to initiate a comprehensive payout strategy by December.
However, the exact percentage of customer recovery is currently unknown and will largely depend on whether the exchange is sold or revitalized.
Former FTX CEO Bankman-Fried is presently on trial in New York for allegedly diverting customer funds to an entity under his control.
Supposedly, these funds financed high-risk transactions, substantial political contributions, and the purchase of luxury properties.