FTX’s new CEO says there’s possibility for exchange to restart

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The new CEO of the cryptocurrency exchange revealed that he is looking into the possibility of restarting the business as FTX news faded in recent weeks.

In an interview, John Ray III, the new CEO of FTX, declared that “everything is on the table” in terms of reviving the company’s international exchange. He also announced the formation of a task force to investigate the possibility. As he and others try to recover lost funds, the WSJ also reported that Ray is investigating whether reviving the primary international exchange would benefit the company’s clients and creditors more. A company statement from earlier this week claimed that FTX debtors had located $1.7 billion in cash, $3.5 billion in cryptocurrency, and $3 million in securities. To evaluate the firm’s financial situation, Ray said it would take a “herculean” effort to add up all of these liquid assets, which come to about $5.5 billion in total.

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FTX’s new CEO says there’s possibility for exchange to restart

The new CEO of the cryptocurrency exchange revealed that he is looking into the possibility of restarting the business as FTX news faded in recent weeks.

In an interview, John Ray III, the new CEO of FTX, declared that “everything is on the table” in terms of reviving the company’s international exchange. He also announced the formation of a task force to investigate the possibility. As he and others try to recover lost funds, the WSJ also reported that Ray is investigating whether reviving the primary international exchange would benefit the company’s clients and creditors more. A company statement from earlier this week claimed that FTX debtors had located $1.7 billion in cash, $3.5 billion in cryptocurrency, and $3 million in securities. To evaluate the firm’s financial situation, Ray said it would take a “herculean” effort to add up all of these liquid assets, which come to about $5.5 billion in total.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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