This is when crypto exchange FTX wants to restart operations.

FTX, once a top name in the crypto market, is in negotiations to breathe new life into the trading platform.

The crypto exchange has already fallen into bankruptcy, covered in fraud allegations. Now, three bidders have proposed to resume trading on this already busy platform.

FTX May resume operations

Kevin M. Kofsky of Perella Weinberg Partners, the investment bank representing FTX, said at a recent court hearing in Wilmington, Delaware that FTX will finalize decisions on its way forward by mid-December.

FTX is carefully evaluating potentially binding offers from investors to determine the most viable way to revitalize the crypto exchange.

Among the options on the table is to consider selling the entire crypto exchange. FTX boasts a client list worth over 9 million. Alternatively, a partnership could be formed to relaunch the crypto exchange, or FTX could take the initiative to do so independently.

Read more: 13 Best No KYC Crypto Exchanges in 2023

Since last year's bankruptcy filing, efforts to raise funds to pay creditors have been relentless. According to court documents, FTX managers recovered nearly $7 billion in assets, with $3.4 billion in crypto.

Major creditor groups have reached an interim settlement on some of the key disputes in the case. The company's attorney, Andrew Ditderich, said the process would pave the way for a detailed payment plan to be submitted in December.

FTX founder Sam Bankman-Fried, who stepped down as CEO amid the financial crisis last year, is currently on trial in New York. The indictment alleges that FTX diverted client funds to Alameda Research for high-risk trading, political contributions and excessive asset purchases before the inevitable collapse of both entities.

These unseen deals are a glimmer of hope in a difficult backstory as FTX tries to shake off the shackles of the past, looking for ways to reboot the crypto exchange.