📌 #FTT #FTX In the latest revised disclosure statement, the reasons for the failure of FTX 2.0's restructuring are explained in detail:

1. FTX lacks a sustainable operating system, and it is a severe challenge to re-establish a large operating team and system;

2. Restarting a compliant crypto exchange requires solving strict legal supervision in various countries;

3. Bidders require the establishment of a complex debt trading mechanism for creditors, which will not only face significant regulatory and execution risks and costs, but also greatly reduce customers' ability to freely trade and realize debts, and even reduce the value of claims;

4. Bidders require the FTX debtor team to make a series of complex and expensive operational and regulatory commitments, which will delay and increase the distribution and risk of assets returned to creditors;

5. The proposals of the 12 bidders have not been recognized and supported by interest organizations related to the restructuring. Considering that a lot of resources have been invested in the early stage of the FTX 2.0 restructuring plan, if negotiations and delays continue, huge expenses will continue to be consumed, but success cannot be guaranteed.

Therefore, based on comprehensive business judgment, the FTX bankruptcy debtor team finally negotiated with UCC and CAHC to "temporarily suspend" any further marketing and sales processes related to FTX 2.0 so that they can focus more on the current plan to return assets to creditors (liquidation)

(Key points) The document also stated: The debtor continues to hold software, customer lists, trademarks and other assets related to the FTX.com exchange for sale

(The expectations have been made clear, see the picture 👇) $FTT