New FTX CEO plans to revive bankrupt FTX

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The bankrupt cryptocurrency exchange FTX is considering resuming operations, according to Chief Executive Officer John Ray.

Mr. Ray stated in his first interview since taking over FTX in November that he has formed a task force to investigate restarting, the company’s main international exchange. Despite the fact that top FTX executives have been accused of criminal misconduct, some customers have praised the company’s technology and suggested that the platform be rebooted, he said.

Ray explained that the decision would be based on whether restarting FTX’s international exchange would result in a higher return for customers than simply liquidating assets or selling the platform.

Despite allegations of criminal misconduct leveled against former CEO Sam Bankman-Fried and other executives, Ray stated that customers have praised FTX’s technology and believe it is worthy of revival.

“There are stakeholders we’re working with who’ve identified what they see as a viable business,” said Ray.

“I’m glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts!” FTX founder and former CEO Sam Bankman-Fried said in a tweet. “I’m still waiting for him to finally admit FTX US is solvent and give customers their money back,” Bankman-Fried added.

The sources for this piece include an article in BBC.

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