• FTX’s new CEO, John J. Ray III, is looking into the possibility of rebooting the exchange to bring more value to customers.
• The token – FTT – has seen an increase of 25% in the last hour, and 60% in the past seven days.
• The new CEO dismissed the recent claims made by the former CEO – Sam Bankman-Fried – and said it was unhelpful.
The crypto exchange FTX.com is considering bringing itself back to life, according to an interview with the Wall Street Journal with the new CEO of the exchange, John J. Ray III. This news has been met with optimism, as the exchange declared bankruptcy in November 2022 after customers started withdrawing their assets from the platform aggressively.
The task force set up by Ray is currently looking into whether rebooting the exchange would bring more value to the customers than selling the exchange or liquidating the assets. Ray stated that “If there is a path forward on that, then we will not only explore that, we’ll do it.” This has been met with a positive response, as the token – FTT – of the exchange has seen an increase of 25% in the last hour, and 60% in the past seven days, according to CoinMarketCap.
Ray has also dismissed the recent claims made by the former CEO – Sam Bankman-Fried – as unhelpful. The new CEO added that there was no need to have a conversation with SBF to make any decisions.
The news of the potential revival of the crypto exchange has been met with much enthusiasm in the industry, as many are optimistic that it could bring more value to customers. The task force is currently exploring the possibility of reviving the exchange, and Ray has promised that if there is a viable path forward, it will be taken. It remains to be seen how the situation develops and whether FTX makes a comeback, but for now, the news has been a welcome respite for the crypto industry.