Bankrupt Crypto Exchange FTX Could Restart Operations, Says New CEO: Report

John J. Ray III, the chapter lawyer who changed Sam Bankman-Fried as FTX CEO, is reportedly contemplating the concept of rebooting the beleaguered crypto alternate.

The Wall Road Journal reports that Ray has arrange a activity pressure to search out out if restarting the previous crypto behemoth may very well be a greater various to promoting its property.

In his first interview since turning into FTX’s new boss, Ray says the corporate is contemplating all attainable choices to retrieve funds. His assertion comes as some clients counsel that there may very well be worth in resuming the operation of the alternate.

“The whole lot is on the desk. If there’s a path ahead on that, then we is not going to solely discover that, we’ll do it.”

Ray was appointed to guide FTX and spearhead its restructuring course of after the Bahamian alternate filed for chapter in November.

FTX’s former CEO, Bankman-Fried, who’s below home arrest following his eight-count indictment, responded to the report saying that he seems ahead to Ray declaring that the US arm of FTX has sufficient liquidity to return clients’ cash.

“I’m glad Mr. Ray is lastly paying lip service to turning the alternate again on after months of squashing such efforts!

I’m nonetheless ready for him to lastly admit FTX US is solvent and provides clients their a reimbursement.”

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