In keeping with a file from The Wall Boulevard Magazine, the brand new CEO and leader of the chapter court cases for FTX, John Ray, is considering relaunching the platform. The manager is exploring choices to re-launch the buying and selling venue and lift cash to pay off its consumers.

Ray appointed a role power to seem into the potential for restarting the world arm of the failed crypto change. The chapter continuing is attempting to discover each approach to lift cash and supply price to the corporate’s consumers.

FTX’s token FTT buying and selling upwards on contemporary information within the day by day chart. Supply: FTTUSDT Tradingview

FTX Has Two Choices, Shoppers Will Get Their Cash Again?

The FTX CEO has discovered a number of property and firms owned via the failed corporate. The brand new control may promote those property to get money, however John Ray believes there’s a risk of having extra price via merely re-launching those venues.

The manager has but to offer extra information about this risk; the chapter court cases prioritize the purchasers. Alternatively, those processes may take years and frequently fail to make consumers entire. John Ray informed the Wall Boulevard Magazine the next referring to a conceivable FTX relaunch:

The entirety is at the desk. If there’s a trail ahead on that, then we will be able to now not simplest discover that, we’ll do it.

As well as, Ray referred to as out Sam Bankman-Fried (SBF), the founder and previous CEO of the crypto change. SBF pleaded now not accountable to twine fraud and conspiracy to dedicate twine fraud and denied his involvement within the billion-dollar scheme that led to an enormous loss for his consumers.

SBF used to be extradited from the Bahamas and positioned underneath the custody of his father or mother after posting collateral for a $250 million bail. Since his apprehension, the FTX has been public at the case, and he intends to “do the whole thing “ for his consumers. Up to now, he has failed to fulfill this dedication.

On SBF, Ray stated: “We don’t wish to be dialoguing with him. He hasn’t informed us the rest that I don’t already know.”

In keeping with the WSJ, the FTX Founder spoke back: “This can be a surprising and damning remark from anyone pretending to care about consumers.”

As discussed, SBF allegedly took billions from its consumers and lent it to FTX’s buying and selling arm, Alameda Analysis. The previous CEO of this corporate, Caroline Ellison, and the previous FTX CTO, Gary Wang, is cooperating with U.S. government. Each pleaded accountable to a number of fees, together with fraud.


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