NYSE President Tom Farley’s Bullish Leads the Rally to Relaunch FTX

• New York Stock Exchange (NYSE) President Tom Farley’s Bullish is one of three suitors bidding to relaunch FTX.
• A list of around 70 companies interested in restarting FTX was cut short to three platforms.
• Proof Group and Figure Technologies are the other two companies included in the list.

The ruined crypto exchange FTX’s auction and re-launch have been the talk of the town over the past few days. While has FTX received multiple bids for a potential re-launch, three suitors lead the match, among whom one is Tom Farley’s Bullish.

According to a report released by The Wall Street Journal, a leading player in FTX auction is the crypto trading platform Bullish, owned by the former New York Stock Exchange (NYSE) President Tom Farley. Prominent blockchain reporter Colin Wu shared a post on X identifying the three companies bidding to helm an FTX re-launch.

Though almost 70 companies conveyed their interest in leading a re-launch of the exchange, only 3 of them have been shortlisted. Farley’s Bullish, the fintech and digital assets firm Figure Technologies, and the venture capital investor Proof Group are the three selected suitors. According to a court hearing, investment banker Kevin Cofsky of Perella Weinberg Partners asserted that a final decision would be made in the month of December. He stated,

We’ve narrowed the field from a large number to a smaller number in what we’re calling our second round. I am optimistic that we will have either a plan for a reorganized exchange, a partnership agreement or a stalking horse for a sale, on or prior to the December 16 milestone date.

The winning company of the rally could move forward to restart and rebrand FTX, potentially relaunching and expanding its services by next year. Reportedly, customers could receive shares of the restarted exchange or the newly traded tokens to somehow compensate for their losses.