could ftx rise from the grave? the new ftx ceo believes so

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New ftx ceo john j. iii said there might be a possibility of re-opening the bankruptcy trade.

In a recent interview, Mr. Ray stated that the possibility of reopening the exchange is not off the table completely. The CEO who has stepped in for former CEO, Sam Bankman-Fried, believes the move to reopen FTX would offer more value to customers as opposed to simply liquidating assets and closing or selling the platform.

Commenting on the possibility of relaunching international trade, Ray said: "There are stakeholders we work with who have identified what they consider a viable company.”

The new FTX Director General stated that he has established a working group to explore the restart of the FTX, because some customers praised their technology and suggested that restarting the platform would be helpful. https://t.co/Wa4xfNTqUD
— Wu Blockchain (@WuBlockchain) January 19, 2023

New FTX CEO to the Rescue

John J. Ray III was brought into the company to determine what value could be saved from the company, following its tumultuous collapse last year. Mr. Ray has a great deal of experience, having worked on the dead enron before.

Ray has since been successful in recovering large amounts of capital to help ftx make users as a whole as possible. More recently, the company has uncovered assets worth $5 billion. Offer clients a glimpse of hope in the wake of the recent bankruptcy filing of ftx Chapter 11.

It has been extremely difficult to restructure and recover assets. Mr. Ray admitted that the former CEO of FTX and his team spent recklessly, spending money on investments and other businesses, with very little written record to follow. "sometimes there were no contracts to buy, or the contracts were not signed," he said.

FTX Token (FTT) Surges afterward.

As a result of recent feedback from the new CEO of FTX, the FTX Native Token (FTT) has experienced a 30% price increase. Feeling seems to have quickly turned into a positive for ftx clients who have lost all interest in the stock market.

Although nothing has been confirmed, the idea of a possible restart of ftx seems to have resulted in a dramatic increase in the ftt price. The surge of almost 35% in the price has seen the price hit $3. hit a two-month high after the trade crash that saw ftt fall to an 80-dollar low.