Insider Sources: Silicon Valley Investment Firm Proof Group Bidding to Relaunch FTX

According to a report by Coindesk, two anonymous sources have revealed that Proof Group is bidding to relaunch FTX. Proof Group, a Silicon Valley investment company, is part of the Fahrenheit alliance, which successfully bid to acquire the bankrupt

cryptocurrency

lending platform Celsius.

In prior reports, FTX was considering proposals from three bidders to potentially restart the exchange, with a decision on how to proceed expected to be made before mid-December. Currently, FTX is in negotiations with investors regarding the details of potentially binding offers.

In response to the news, FTT experienced a short-term price surge, breaking the 1.2U mark and achieving a 24-hour gain of 8.27%.