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Lane, however, wondered if clients would rely on ftx again, saying that it is possible for another company looking to start a new exchange to "use these assets" instead of developing its own interface from scratch..
Former FTX CEO Sam Bankman-Fried tweeted on Jan. 20 hiring John Ray for watching an ftx restart, suggesting it's the best move for his clients.
I'm glad Mr. Ray finally pretends to back off after months of stifling efforts like this!
I'm still waiting for him to admit that FTX is creditworthy and give their money back to the customers...https://t.co/XjcyYFsoU0https://t.co/SdvMIMXQ5K
— SBF (@SBF_FTX) January 19, 2023
This came after John Ray told the Wall Street Journal on Jan. 19 that he was considering reviving the crypto exchange as part of his efforts to make the users whole.
Ray noted that despite top executives being accused of criminal misconduct, stakeholders have shown interest in the possibilities of the platform coming back — seeing the exchange as a “viable business.”
In comments to Cointelegraph, BINANCE Australia CEO Leigh Travers believes it will be difficult for FTX to secure a license again, particularly as the industry moves into a new year with increased regulation and oversight by regulators.
Across also noted that since shutting down, ftx users have migrated "to other platforms, such as binance." whether these users will 'feel safe to turn back the clock.”
He asked whether these users "feel safe to turn back the clock." He discussed that the governance and controls of the FTX have been questioned, with administrators sharing details of some "preferential treatment" customers, including "back door switches".
“How will users feel comfortable going back to a platform that treated some clients as second-class?”
Digital assets lawyer Liam Hennessy, partner at Australian law firm Gadens, thinks that it would be “very difficult” for FTX, given the reputational damage and lack of trust, for any customer or investor to “come near them again.”
"How will users feel comfortable returning to a platform that treated certain customers like second-class customers?", associated with the Australian law firm Gadens, think it would be "really hard" for FTX, taking into account damage to reputation and lack of confidence, for any client or investor to "reacquaint themselves with them."
The lawyer believes that in certain extraterritorial territories, it will be easier for the exchange to obtain license approval.
“He will be useless if his users do not intend to come back.
Related: FTX has recovered over $5B in cash and liquid crypto: Report
Meanwhile, RMIT University Blockchain Innovation It will be very difficult for big countries, such as the United States, the United Kingdom and Australia, to get through the barriers."
Related: FTX has recovered more than 5 billion dollars in cash and cryptoliquid: ReportMeanwhile, RMIT University Blockchain Innovation.
Hub Assistant Professor of Law Aaron Lane said Cointelegraph, that it is "not surprising" that the FTX is looking at relaunching trade, stating that is the purpose of the Chapter 11 process — giving the company the ability to propose a plan to run the business and pay the creditors back “over time with the court’s approval.”
