Kraken Co-founder: FTX 2.0 is worse than starting from scratch. The custodian should directly auction the domain and trademark to the highest bidder.

Odaily News: Jesse Powell, co-founder of Kraken, tweeted that FTX 2.0 is worse than starting from scratch. It lacks a team, technology, license, banking operations, and its brand has been damaged. The custodian should directly auction the domain name and trademark to the highest bidder. Any other action would be exploiting the creditors.



In previous news, FTX's proposed restructuring plan suggests that, in addition to establishing an "offshore exchange company," FTX is also considering setting up a new trust company called "FTX Ventures Trust." This trust will hold FTX's investments in private startups and digital tokens that FTX does not plan to immediately sell upon bankruptcy exit.