FTX, a crypto exchange that recently went bankrupt, may see a resurgence under the leadership of its new CEO, John J. Ray III. In a recent interview with the Wall Street Journal, Ray stated that he is looking for ways to revive the company while also working to reimburse customers and creditors for their losses from the collapse that occurred two months ago.
He has established a team to investigate the possibility of relaunching FTX.com, the company’s primary international exchange. However, despite allegations of criminal misconduct against FTX’s senior executives, some users have commended the exchange’s technology and believe there is potential for a reboot of the platform, according to Ray.
FTX CEO John J. Ray III said:
Everything is on the table. If there is a path forward on that, then we will not only explore that, we’ll do it.
Additionally, Ray mentioned that some stakeholders they are collaborating with had identified a potential business opportunity. While He stated that they are also considering the possibility of shutting down the exchange and promptly reimbursing customers their crypto assets.
However, he added that they would evaluate if the resurrection of FTX’s international exchange could yield more benefits for the customers compared to liquidating assets or selling the platform.
FTX Former CEO’s Reaction On The News
The founder and former CEO of FTX, Sam Bankman-Fried, sparked controversy with a tweet regarding the current CEO’s efforts to revive the bankrupt cryptocurrency exchange.
In his tweet, Bankman-Fried stated that he was glad that the new CEO, John J. Ray III, was finally “paying lip service” to turning the exchange back on, but also accused him of squashing such efforts in the past. Bankman-Fried also claimed that he is still waiting for Ray to admit that FTX US is solvent and return money to customers.
This tweet drew a strong reaction from the crypto community, with many criticizing Bankman-Fried for pretending to be innocent and a well-wisher for customers who lost money on his platform.
Some also pointed out that they are “still waiting for you to admit that you used customer funds on FTX Global as collateral for your bad bets.” some argued to stop tweeting.
The accusations of fraud against Bankman-Fried have been met with skepticism and skepticism, as he pleaded not guilty in his trials, and the community’s reaction to his tweet was quite extensive.
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