Silicon Valley investment companies represented by Proof Group, as part of the Fahrenheit consortium, successfully bid for the bankrupt cryptocurrency lending platform Celsius and are now involved in planning to restart the former cryptocurrency trading giant FTX. According to investment bank Perella WeinbergPartners, multiple proposals submitted for a potential relaunch of FTX have been whittled down to one of three shortlists. In addition to a possible reboot, other options being considered include selling the entire trading platform and its list of 9 million customers, or bringing in partners.
Former FTX general counsel Can Sun is teaming up with a group of former FTX executives to build a new cryptocurrency exchange aimed at solving the problems that led to the bankruptcy of his former employer. Can Sun, who testified in the criminal trial of Sam Bankman-Fried, was a key witness in the SBF trial.
