• John Ray, the acting Chief Executive Officer of FTX, said that restarting the international exchange might be an option for creditors to receive more compensation.
• FTX filed for Bankruptcy in November 2022, using Chapter 11.
• John J. Ray III said that restarting the exchange is on the table, and he will explore the possibility if it makes sense for making creditors whole.
John J. Ray III, the acting Chief Executive Officer of FTX, has said that reviving the international exchange is on the table. This comes after the exchange filed for Bankruptcy back in November 2022, using Chapter 11.
In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange might be an option for creditors to receive more compensation. He said, “Everything is on the table. If there is a path forward on that, then we will not only explore that, we will do it.”
Mr. Ray further clarified that he will be looking into whether restarting the international exchange would recover more money for the creditors of FTX. He said that if restarting the exchange makes sense in terms of making creditors whole, then he will explore the possibility.
The news of a possible revival of FTX has been met with skepticism by some in the cryptocurrency community. However, if the exchange is able to revive itself, it could be a major boon for the cryptocurrency industry.
John J. Ray III has been tasked with making sure that the creditors of FTX receive as much compensation as possible. He has insisted that he will not rest until he has done everything in his power to make sure that the creditors are taken care of.
Only time will tell if FTX is able to revive itself from bankruptcy and become a major player in the cryptocurrency industry. Regardless of what happens, John J. Ray III has made it clear that he is committed to making sure that the creditors receive as much compensation as possible.