The giant FTX could rise from its ashes

New FTX chief John Ray III said a task force is considering reopening the platform, which has been bankrupt since Nov. 11.

Unbelievable, but true: FTX, the platform that caused a real earthquake in the cryptocurrency industry since its bankruptcy on November 11, can rise from the ashes. Indeed, it is a scenario that is being considered very seriously by the new head of FTX, John Ray III in an interview given to The Wall Street Journal.

A task force is already working on this, which wants to wipe the slate clean. He believes that relaunching the platform would be a great way to restore value to shareholders and customers rather than liquidating assets or reselling the platform for scrap. Because the new management team is convinced: FTX’s infrastructure itself is fully operational and full of qualities to create value again.

FTT, FTX token, jump

The new boss says that he has already received many expressions of interest from project partners, customers and potential new investors. It sounds hard to believe, but it is. “Everything is on the table (…) If there is a way forward on the subject [de ce redémarrage de FTX]so we’re not just going to study it, we’re going to do it,” said John Ray III.

In any case, some are following the bet on the crypto market, the FTT token, whose value was almost wiped out after the FTX scandal, has recovered more than 20% since yesterday due to this news.

The announcement was also welcomed by the former head of FTX, Sam Bankman-Fried, who continues to maintain that the US subsidiary of FTX is solvent, contrary to the data recently provided by FTX.

Antoine Larigaudrie, edited by PA

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