New FTX CEO Says Bankrupt Crypto Trade Might Restart Enterprise: Report

Bankrupt crypto trade FTX is trying into the opportunity of reviving its enterprise, Chief Govt Officer John Ray informed the Wall Road Journal on Thursday.

Ray, who took over the reins in November, has arrange a process power to discover restarting, the corporate’s primary worldwide trade, he mentioned in an interview with the WSJ.

The CEO additionally informed the Journal that he would look into whether or not reviving FTX’s worldwide trade would get well extra worth for the corporate’s prospects than his group might get from merely liquidating belongings or promoting the platform.

FTX’s native token FTT surged almost 30 p.c after the report.

“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 mentioned 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.

A authorized consultant for FTX didn’t instantly reply to a Reuters request for remark.

Bankman-Fried has been accused of stealing billions of {dollars} from the trade’s prospects to pay money owed incurred by his crypto-focused hedge fund, Alameda Analysis. He has pleaded not responsible to fraud prices.

The way forward for buyer funds, nevertheless, stays unclear. Earlier this week, FTX mentioned in a report back to collectors that hackers stole about $415 million (roughly Rs. 3,369 crore) in crypto from its worldwide and US exchanges since its chapter in November.

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