In reaction to the relieving comment by the new FTX boss to reboot the exchange, the FTT token jumped 32% to $2.37.
After the sudden FTX crash that resulted in losses for many investors and made several headlines, the new CEO is exploring the possibility of reviving the crypto exchange. FTX trading was one of the 130 businesses that filed bankruptcy under FTX Group, which crumbled under the leadership of Sam Bankman-Fried, known as SBF. SBF had to step down from his role as the CEO amid his legal battle in the US. In his stead, John J. Ray III is now the new FTX boss and plans to restart the distressed exchange as the new CEO.
New FTX CEO Is Exploring Restarting Exchange
Speaking to the Wall Street Journal in his first public interview since he took over the exchange, the new boss said everything was “on the table” concerning FTX.com’s future. Rau said the effort to revive the crashed crypto exchange is a part of the move to return invested and creditors’ funds. Meanwhile, FTX recently revealed that it had identified about $5.5 billion of liquid assets. The liquid asset consists of $1.7 billion in cash, $3.5 billion of crypto assets, and $0.3 billion in securities. The crypto company also mentioned more than $3 billion owed to its top 50 creditors. The new FTX CEO has formed a task force towards his vision of restarting FTX.com.
Ray and SBF are at odds over FTX’s bankruptcy filing. The former boss believes the action was inappropriate and attacks how Ray handles the situation. However, the incumbent referred to SBF’s comment as “unhelpful and self-serving.” He added that the former billionaire’s comment was rather shocking, coming ”from someone pretending to care about customers.” Ray added:
“We don’t need to be dialoguing with him. He hasn’t told us anything that I don’t already know.”
Anyways, SBF commented on the latest development by the new FTX CEO to revive the crypto exchange. Quoting the WSJ report, he wrote in a tweet:
“I’m glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts! I’m still waiting for him to finally admit FTX US is solvent and give customers their money back.”
In reaction to the relieving comment by the new FTX boss to reboot the exchange, the FTT token jumped 32% to $2.37. The increase signifies a 165% surge from its December 30th ATL of $0.82. It is surprising that traders still engage the token despite FTX’s demise. They are possibly confident in the asset’s strength and a possible reboot of the crypto exchange.
At press time, FTT is up 25.98% to $2.24.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
