The new CEO of FTX says the failed crypto exchange could be revived and resume normal operations
FTX's new boss, John Ray III, said FTX could be revived and eventually resume normal operations while the crypto exchange is undergoing Chapter 11 bankruptcy proceedings.that he set up a task force to look into restarting the international exchange FTX.com.
"Everything is on the table," Ray said."If there is a path forward on that, we will not only explore that, we'll do it." Some customers have praised the platform for its technology and suggested bringing it back to business, he added. Ray, who was brought in to sort out FTX's disarrayed finances, and has spent the past few months searching for assets within the exchange to cover its shortfalls, including the $8 billion it owes in customer deposits.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX CEO fights to keep lawyers as calls for removal intensifyFTX CEO John J. Ray III has hit back at claims that its lead counsel Sullivan & Cromwell has a conflict of interest, suggesting to bankruptcy judge John Dorsey that FTX creditors are best served by retention of the law firm.
Read more »
FTX CEO says he is exploring rebooting the exchange: ReportJohn Ray, chief executive officer of FTX amid the firm's bankruptcy proceedings, is reportedly considering reviving FTX Trading based on feedback from certain shareholders.
Read more »
FTX cryptocurrency jumps more than 35% after CEO John Ray says bankrupt crypto exchange may restartFTX's FTT token surged in value Thursday morning after the Wall Street Journal published an interview in which CEO John Ray III said the bankrupt crypto exchange may restart.
Read more »
FTX Reportedly Making ComebackThe newly appointed CEO of FTX announced plans to explore bringing back the bankrupt exchange
Read more »