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FTX CEO weighs restarting the exchange

The new FTX CEO is considering restarting the bankrupt trading platform.

By Finst News
• 2 min read
FTX CEO weighs restarting the exchange

The new FTX CEO is weighing restarting the bankrupt trading platform. Could this approach better compensate customers?

In a Wall Street Journal interview, the new FTX CEO, John J. Ray III, said that reopening the crypto exchange could be possible. Ray believes reopening might offer more value to customers than selling the assets and shutting down or selling the platform. "If there’s a way to do that, we’ll not only explore it but pursue it," Ray said.

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FTX coin reacts to the news

The native FTX Coin (FTT) reacted negatively to the news with a roughly 30% price spike. After FTX’s bankruptcy, John J. Ray III was brought in to secure the remaining assets of the crypto exchange and work on potential customer compensation.

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