Saturday, May 25, 2024
HomeTechnologyNew FTX CEO fillings indicates reopening of collapsed crypto exchange

New FTX CEO fillings indicates reopening of collapsed crypto exchange

John Ray III, the new CEO of FTX and the person in charge of the collapsed digital currency exchange’s bankruptcy procedures, has hinted that the exchange could reopen.

According to John Ray’s most recent billing document, FTX is currently in the process of being rebooted. According to the disclosures, the CEO spent 6.7 hours on matters pertaining to “2.0.”

John Ray III spent time analysing and completing the 2.0 reboot of exchange content for distribution, according to the most recent legal statements.

John also took some time to look over the 2.0 bidders list. Nevertheless, it should be emphasised that there has been no official declaration confirming the restart of the cryptocurrency exchange.

Ray had earlier said that they would not only investigate the possibility of restarting the cryptocurrency exchange but would really go ahead and execute it.

Although there have been discussions of FTX 2.0, many have said that it would be highly impossible because of the cryptocurrency exchange’s ongoing technical problems, including excessive latency and software issues that contributed to its financial collapse in 2022.

FTX’s FTT increased by up to 12% in response to the news before declining once more. At the time of writing, FTT is now selling at $1.004, roughly -4.61% down in the last 24 hours. 

The token of the now-defunct exchange has decreased by over 99% from reaching an all-time high of $85.02 in September 2021.

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