The new CEO of FTX has considered the possibility of reviving the cryptocurrency exchange that collapsed at the end of last year.
FTX filed for bankruptcy back in November 2022 following its clients began withdrawing their assets from the platform upon hearing of the events. Sam Bankman-Fried, the founder of the stock exchange, resigned as CEO and entrusted the fate of the company to American lawyer John J. Ray III. SBF has since been arrested in the Bahamas, but has pleaded not guilty to the criminal charges and will not appear in court until October. By the way, since FTX filed for bankruptcy, it has lost $415 million in cryptocurrency due to hacks.
At the same time, the director entrusted with conducting the bankruptcy proceedings gave an interview to the Wall Street Journal he stated, that there is a chance that the once global cryptocurrency exchange will return to the ranks of the living. He added that a working group was created to revive the platform, which will investigate whether reforming the company would be more beneficial than liquidating the assets or selling the stock market. Ray stated that “if they see an opportunity” to restore the stock market, they will take the following steps.
FTX.US, the U.S. arm of the exchange, said SBF had always been solvent and had more than $350 million in assets, which was more than its customers’ balances. However, this is in stark contrast to a report by organizations investigating the collapse of the cryptocurrency exchange, who identified $181 million in cryptocurrency belonging to FTX. Ray also commented on SBF’s claims. According to him, the man’s statement is completely useless, and he does not think that he should talk to SBF regarding anything, considering that he did not disclose any information that was not already public. In response to his opinion, SBF said:
“This is an appalling and insulting comment from someone who pretends to care regarding their customers in the slightest.”
Anyway, data from CoinMarketCap according to the news had a particularly positive effect on the price of the FTX token, which has grown by around 60% in the last week.
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