John J. Ray III, the bankruptcy lawyer who replaced Sam Bankman-Fried as FTX CEO, is reportedly considering the idea of rebooting the beleaguered crypto exchange.
The Wall Street Journal reports that Ray has set up a task force to find out if restarting the former crypto behemoth could be a better alternative to selling its assets.
In his first interview since becoming FTX’s new boss, Ray says the company is considering all possible options to retrieve funds. His statement comes as some customers suggest that there could be value in resuming the operation of the exchange.
“Everything is on the table. If there is a path forward on that, then we will not only explore that, we’ll do it.”
Ray was appointed to lead FTX and spearhead its restructuring process after the Bahamian exchange filed for bankruptcy in November.
FTX’s former CEO, Bankman-Fried, who is under house arrest following his eight-count indictment, responded to the report saying that he looks forward to Ray declaring that the US arm of FTX has enough liquidity to return customers’ money.
“I’m glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts!
I’m still waiting for him to finally admit FTX US is solvent and give customers their money back.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney