FTX CEO – John J. Ray III stated that he is considering bringing the dead crypto exchange back to life, in an interview with the Wall Street Journal. The CEO is currently overlooking the bankruptcy proceedings of the crypto exchange in the United States. And, the exchange that could make a comeback is FTX.com, which […]
FTX CEO – John J. Ray III stated that he is considering bringing the dead crypto exchange back to life, in an
with the Wall Street Journal. The CEO is currently overlooking the bankruptcy proceedings of the crypto exchange in the United States. And, the exchange that could make a comeback is FTX.com, which was operating on a global level.The crypto exchange filed for bankruptcy in November 2022 after customers started withdrawing their assets from the platform aggressively. With this, Sam Bankman-Fried – founder of FTX – also resigned from the post of CEO, and assigned the role to John J.
In the latest interview, the new CEO stated that a task force has been set up to revive the crypto exchange as its technology received a positive response from the customers. The team is also looking into whether this move would bring more value to the exchange’s customers than liquidating the assets. Ray added that “If there is a path forward on that, then we will not only explore that, we’ll do it.
The news has boosted the price of FTT – the crypto exchange’s token. According to CoinMarketCap, the token was trading at $2.24 at press time and had seen an increase of over 25% in the last hour. In addition, the coin’s value has increased by over 60% in the past seven days.Subscribe to get it daily in your inbox.
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