FTX May Restart Bankrupt Exchange Says CEO John J. Ray III

FTX Could Restart Bankrupt Exchange Says CEO John J. Ray III

January 20, 2023 Story: Mohd Javed

FTX may restart bankrupt crypto exchange, the FTX's new chief executive claimed in his first interview since taking over FTX in November.

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“Everything is on the table' when it comes to FTX's future”, Ray said in his recent interview with Wall Street Journal.

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FTX CEO John J. Ray III, the veteran bankruptcy attorney leading the embattled crypto firm through its restructuring, said he has set up a task force to explore restarting FTX.com.

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Ray also said he is looking into the possibility of reviving FTX as he works to return money to the failed company’s customers and creditors.

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FTX token jumped more than 35% after CEO John Ray told the Wall Street Journal about the possibility of FTX’s revival.

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After FTX bankruptcy filing in November, the exchange alleged it was hacked and said $415 million was stolen from the exchange in unauthorized transactions.

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This came after the CEO SBF acknowledged that the company didn't have sufficient assets to cover a rush of customer withdrawals.

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