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FTX New CEO Hints the Reboot of the Fallen FTX 2.0

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The new FTX CEO’s legal billing suggests he is taking time to explore the possibility of FTX 2.0 reawakening.

John Ray III, who is in charge of the bankruptcy affairs of the inoperative crypto exchange, is insinuating that the cryptocurrency exchange can be revived again.

The newest billing report hints that the restoration of the FTX is already in progress.

According to the filings, Ray III has already invested 6.7 hours on products related to “2.0”.

READ ALSO: Bitcoin Now Ranks As Second Largest NFT Chain

FTX Potentials On Review

Given John Ray III’s current legal billings, the new CEO has spent time reviewing and finalizing 2.0 reboot exchange items for distribution.

Furthermore, he took the time to assess the 2.0 bidder list.

However, there has yet to be any formal announcement concerning the restarting of the crypto exchange.

Previously, Ray had suggested that if there is a way to restart the crypto exchange, they are ready to explore and carry it out.

Even though there are positive deliberations concerning FTX 2.0, some still think it is highly improbable.

This group cites never-ending technical failures, software bugs, and significant high latency, which plague the crypto exchange.

According to them, these factors had played a role in the activities of the crypto exchange from its inception until its demise last year.

READ ALSO: Crypto Exchange Hotbit Shutdown after 5 Years of Operation

FTT, FTX Token Soars by 12% Amid News of Reboot

Amid the speculations of the FTX reboot, its FTT token prices reach sky-high.

It rose as high as 12% and dropped down again.

Meanwhile, the FTT token is selling at $1.07, almost up by 9% for the past 24 hours.

Notably, the inoperative exchange’s token was down by almost 99% from its all-time high of $85.02 in September 2021.

The FTX exchange has been in the spotlight since it collapsed, even its native token, FTT.

According to the latest update, the Kraken investor Tribal Capital, a venture capital company, hopes to invest $250 million to reboot the FTX exchange.

At present, John Ray III stated that he is still working on uncovering and retrieving the FTX assets.

Also, he has formed a team whose task is to explore the potential of rebooting the international branch of the crypto exchange.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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