FTX Exploring Possibility of Relaunch: FTT Surges 37%

• FTX CEO John Ray is exploring the possibility of restarting the now-defunct cryptocurrency exchange.
• A task force has been created to investigate the path forward for FTX, with Ray stating that ‚everything is on the table‘.
• Following the announcement, FTT, the native token of FTX, saw a 37% increase in price.

John Ray III, CEO of the now-defunct cryptocurrency exchange FTX, has announced that he is exploring the possibility of relaunching the exchange. This announcement, made in the Wall Street Journal, comes in the wake of the exchange filing for bankruptcy on November 11, 2022, an event that caused a significant downturn in the crypto market.

To investigate the path forward for FTX, Ray has created a task force, with the CEO stating that “everything is on the table.” If there is a viable path forward, then FTX will explore it. The announcement has been met with mixed reactions, with some of FTX’s clients praising the company’s technology and suggesting that it might be worth a reboot.

On January 11, it was reported that FTX had recovered over $5 billion worth of funds, comprised of cash, investments, and liquid cryptocurrencies. This news was met with a significant surge in the price of FTT, the native token of FTX, with the coin increasing in value by 37% within a few hours.

It remains to be seen whether FTX will be able to make a comeback, but the fact that Ray and the task force are actively exploring the possibilities is a good sign. The crypto community is hopeful that FTX will be able to make a successful return, as it would be a boon for the entire industry. For now, we will just have to wait and see what the future holds for FTX.