New FTX chief says bankrupt crypto exchange could restart – WSJ

Jan 19 (Reuters) – Bankrupt crypto exchange FTX is exploring the possibility of reviving its business, chief executive John Ray said the wall street journal Thursday.

Ray, who took the reins in November, has set up a task force to explore rebooting, the company’s main international exchange, he said in an interview with the WSJ.

The CEO also told the Journal that he would consider whether reviving FTX’s international exchange would recover more value for the company’s customers than his team could obtain by simply liquidating assets or selling the company. platform.

FTX’s native FTT token jumped nearly 30% after the report.

“I’m glad Mr. Ray is finally pretending to reactivate the exchange after months of crushing such efforts!” FTX founder and former CEO Sam Bankman-Fried said in a Tweeter.

“I’m still waiting for him to finally admit that FTX US is solvent and reimburse customers,” Bankman-Fried added.

A legal representative for FTX did not immediately respond to a Reuters request for comment.

Bankman-Fried has been accused of stealing billions of dollars from exchange clients to pay off debts incurred by his crypto-focused hedge fund, Alameda Research. He pleaded not guilty to fraud charges.

The future of client funds, however, remains uncertain. Earlier this week, FTX said in a report to creditors that hackers had stolen around $415 million in crypto from its international and US exchanges since its bankruptcy in November.

Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber and Anil D’Silva

Our standards: The Thomson Reuters Trust Principles.


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