BlocksInform
Jean ray lll, The current chief executive officer of ftx, suggested that ftx.com, the global crypto exchange that lies at the centre of the failed crypto empire of sam banklam-fried. Mr. ray, which was brought in last November to clean up damage from sbf and his team, spent the last two months recovering stock market assets to gain value for investors and clients of the stock exchange.
The FTX reboot is on the tabletop.
In an interview with the Wall Street Journal, new CEO John Ray III revealed that he has set up a task force to explore the possibility of restarting FTX. The Executive Director acknowledges that there is an opportunity to restart the exchange. Closure and return of available assets to clients would be the alternative available. If the resumption of the swap results in more recovery than the liquidation of the assets, the swap will be relaunched.
It's all on the board...If there's a path to this, then we're not just going to explore it; we're going to explore it."
CEO John Ray
Mr. Ray told wsj that asset recovery was particularly difficult in this case because there was no centralized registry that listed the cashflow and investments of the business. Gary Wang, the exchange’s co-founder, and Alameda Research’s Caroline Ellison initially helped to locate the exchange’s funds. The two officers pleaded guilty and entered into agreements with the prosecutors.
Sam bankmain-fried, who argued that filing chapter 11 bankruptcy was a mistake, welcomed the opportunity to relaunch ftx. John Ray objected to SBF's comments since the bankruptcy as "unnecessary and selfish".
FTX Token ($FTT) has gone up more than 30% since the news of a possible revival of the exchange came out.
