FTX 2.0 Bidders Rejected by Bankruptcy Lawyers

FTX creditor Arush reported on social media that three serious bidders, including Tribe and Bullish, aimed to revive FTX but were rejected by bankruptcy lawyers.

This refusal highlights potential value loss for creditors and sparks debate over the decision’s impact on asset recovery.

Rejected Bids by Arj/Tribe, Bullish, and Figure

Social media posts by FTX creditor Arush disclosed that the bids by Arj/Tribe, Bullish, and Figure were dismissed in the FTX bankruptcy proceedings. Arush took part in Tribe Capital’s consortium, one of the three entities proposing to lead FTX’s revival.

Despite offering substantial equity components, estimated by Arush to add “hundreds of billions” in value, these proposals were unsuccessful. This refusal could have impacted FTX creditors significantly, denying them a possible return on their investment.

Market reactions followed, with former BitMEX CEO Arthur Hayes emphasizing creditors’ right to a proper restart.

ShapeShift founder Erik Voorhees aired concerns over missed opportunities for recovery.

Market Impact and Historical Comparisons

Did you know? The rejection of the bids for FTX 2.0 echoes similar situations, like the 2014 Mt. Gox bankruptcy, where creditors only saw recovery through liquidation, not a company relaunch.

As of November 19, 2025, the FTX Token (FTT) trades at $0.63, with a market cap of $206.01 million. Recent price changes show declines across multiple time frames, including a notable 5.08% drop in the last 24 hours. CoinMarketCap data attributes these shifts to ongoing uncertainty around the FTX brand.

The Coincu research team suggests that the rejection may dampen future financial recoveries. Analyses of past bankruptcies, like Mt. Gox, highlight the challenges creditors face without potential relaunches. Regulatory scrutiny and market reactions will likely influence future proceedings related to FTX assets.