John Ray III exploring possibilities to launch FTX2.0 

The current FTX CEO is working hard to revive the FTX exchange in near future.

FTX was a popular crypto trade platform but collapsed badly in Nov of the last year, thanks to the mismanagement of customers’ funds & use of customers’ funds for personal benefits by the FTX exchange co-founder Sam Bankman-Fried (SBF). In the present time, John Ray III the current CEO of this bankrupt exchange & he is doing his best to recover all the funds that the exchange lost. 

On 24 May 2023, A court document came to light that showed that FTX CEO Ray spent a huge time in holding meetings regarding the exchange’s revival plans. 

In the document, it is mentioned that Ray is doing his best to revive the exchange along with funds recovery plans. 

Earlier this, Ray talked about the FTX exchange relaunch plan in Jan of this year. At the time, the FTX bankruptcy team had recovered nearly $3.5 billion. Later in April, reports confirmed that FTX successfully recovered nearly $7.3 billion. 

The latest court document confirmed that FTX’s current leadership is highly optimistic about their plan to reboot the exchange and they held several meetings for the same. 

Earlier this, several experts said that there are possibilities that FTX may again start services but will fail to re-establish the trust level.

FTX token price action 

Because of this news, the FTX token, the native token of the FTX exchange, saw a sudden pump. The current trade price of this token is $1. 

Read also: Malaysian police dismantle an illegal China-linked crypto firm