Jinse Finance reported that the current CEO of FTX, John J. Ray III, said that the team submitted a restructuring plan early in the bankruptcy process to obtain feedback from creditors. FTX expects to work with creditors to revise the plan in the third quarter of 2023 and file a disclosure statement in the fourth quarter. The proposed FTX restructuring plan indicates that, in addition to establishing an "offshore exchange company," FTX is also considering the establishment of a new trust company called "FTX Ventures Trust." The trust will hold FTX's investments in private startups as well as digital tokens that FTX does not plan to sell immediately after exiting bankruptcy. The purpose of the trust is to manage these long-term investments and distribute cash from them over time. FTX has not yet decided whether the trust will be owned by FTX's bankruptcy estate or will be traded separately after bankruptcy.