During a court hearing on Wednesday, FTX’s attorneys from Sullivan & Cromwell revealed that the management is mulling over the possibility of reopening the crypto exchange in the second quarter of 2023 while it navigates through its bankruptcy process.

In light of this news, FTX’s native cryptocurrency, FTT, soared by almost 25% in the past one hour while recording a staggering 105% gain over the course of 24 hours.