FTX’s mooted plan to reboot the bankrupt crypto exchange has attracted interest from the venture capital firm Tribe Capital, Bloomberg reported, citing unidentified people familiar with the matter.
Tribe Capital was an investor in the exchange before it collapsed in November and is considering a fresh capital injection, Bloomberg said. Tribe co-founder Arjun Sethi met with FTX’s committee of unsecured creditors in January to discuss the proposal.
The San Francisco-based VC firm is considering leading a $250 million fundraise, anchored by $100 million from Tribe and its investors, Bloomberg said.
In a tweet thread following the Bloomberg report, the committee representing FTX's creditors said it was working to evaluate all options to "reboot or sell the FTX exchanges and create value for creditors."
"There is no definitive timetable for a reboot or sale of the exchanges at this time," the committee said. "Until a formal process is launched, parties interested in purchasing or sponsoring a reboot of the FTX exchanges should contact the debtors and the committee."
Tribe Capital didn't immediately respond to a request for comment.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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