Reviving the Dead: John J. Ray III Explores Bringing Back FTX International Crypto Exchange

by admin .

• FTX news CEO John J. Ray III is exploring the possibility of restarting the dead crypto exchange FTX International.
• He has set up a task force to assess if bringing the exchange back to life would bring more value for customers than liquidating assets or selling the exchange.
• The news of the potential revival of the crypto exchange has boosted the price of FTT, its token which is currently trading at $2.24.

FTX International, a global crypto exchange, filed for bankruptcy in November 2022 after customers started withdrawing their assets and the founder Sam Bankman-Fried resigned from the post of CEO. The role was then assigned to John J. Ray III, an American lawyer who oversaw the liquidation of Enron. In a recent interview with the Wall Street Journal, the new CEO revealed that he is exploring the possibility of restarting the exchange and has set up a task force to assess the situation.

John J. Ray III stated that the team is looking into whether bringing the exchange back to life would bring more value to the customers than liquidating their assets or selling the exchange. He added that “If there is a path forward on that, then we will not only explore that, we’ll do it.” The news of the potential revival of the crypto exchange has boosted the price of FTT, its token, which is currently trading at $2.24 according to CoinMarketCap. The coin’s value has increased by over 60% in the past seven days.

The CEO also commented on the recent claims made by the former CEO – Sam Bankman-Fried. He remarked that SBF’s statement was unhelpful and dismissed the need for having a conversation with him. Ray further stated that “We are excited about the possibility of bringing back the FTX exchange, and anything that does not contribute to that goal is not helpful.”

With the news of the possible revival of FTX International, customers and crypto enthusiasts are eagerly awaiting the outcome of the task force’s assessment. The team will be looking into various factors such as the cost of reviving the exchange, the regulatory compliance, and the potential value that the exchange could bring.

The crypto space is looking forward to see if John J. Ray III will be able to bring the dead crypto exchange back to life and make it a success. With its technology having received a positive response from customers, the potential for FTX International coming back is quite high. The future of the exchange will be determined by the outcome of the team’s assessment.