Tuesday, January 31, 2023

John Ray III is Reportedly Considering to Relaunch FTX.com

FTX CEO has reportedly arrange a activity pressure exploring the potential for relaunching FTX.com.

John Ray III, an American lawyer and present cryptocurrency change FTX chief govt officer (CEO), is reportedly trying into the potential for relaunching FTX providers.

In accordance to the Wall Road Journal report shared on January nineteenth, Ray III has gathered a activity pressure that is exploring methods to restart operations of FTX’s fundamental worldwide change, FTX.com.

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Furthermore, the workforce is allegedly trying into whether or not restarting FTX.com would carry extra worth to FTX clients than “merely liquidating property or promoting the platform.”

FTX founder and former CEO Sam Bankman-Fried celebrated the information on Twitter.

I am glad Mr. Ray is lastly paying lip service to turning the change again on after months of squashing such efforts! I am nonetheless ready for him to lastly admit FTX US is solvent and provides clients their a reimbursement…

It is value noting that, on January seventeenth, FTX shared a press release revealing that it has recognized round $5.5 billion “of liquid property.” The entire quantity of liquid property is constructed from “$1.7 billion in money, $3.5 billion of crypto property, and $0.3 billion of securities.” Furthermore, FTX reportedly owes greater than $3 billion to the highest 50 collectors.

The tip of 2022 was fairly vital for the entire FTX case. On the finish of December, former Alameda Analysis CEO Caroline Ellison and FTX co-founder Gary Wang pled responsible to fraud costs.

Alternatively, after being extradited to the US, Sam Bankman-Fried pled not responsible to all prison costs and is now set to seem earlier than the courtroom in October.

After the information about John Ray’s plans broke, FTX native token FTT surged greater than 30%. On the time of writing, FTT retails for $2.31, recording a 30.76% worth enhance within the final 24 hours.

Gile K. - Crypto Analyst

by Gile Okay. – Crypto Analyst, BitDegree

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