After shaking the crypto market with its bankruptcy in November 2022 and causing successive shock waves, it seems that the crypto exchange FTX may reopen as FTX 2.0. Despite hints by the new CEO appointed to manage FTX’s bankruptcy process, John Ray III, that FTX could reopen in January, no concrete announcement was made. However, recent documents reveal active efforts towards the reopening of the crypto exchange.
New CEO Ray Spent 6.7 Hours on FTX 2.0
CEO Ray has dedicated 6.7 hours to the creation of FTX 2.0, according to billing items related to the management of FTX’s bankruptcy process. This time commitment implies that the reopening of the exchange as FTX 2.0 is being actively pursued.
Until now, there was no concrete evidence of a solid plan for reopening, except hypothetical statements and internal draft documents prepared for the reopening of the crypto exchange. However, the new CEO has never denied these claims.
Ray told The Wall Street Journal in January, “Everything is on the table. If there is a forward-looking path on this, then we will not only research it, but we will also do it.”
FTX’s Chief Counsel Dietderich Also Hinted that the Exchange Could Reopen
FTX’s Chief Lawyer, Andy Dietderich, also hinted in April that the crypto exchange could potentially resume operations. However, he stressed that such an action would require significant capital and that while customers may show renewed interest in the exchange, this was one of many possibilities, and decisions were far from final.
Rumours are now circulating that VC firm Tribe Capital may be interested in leading a financing round to provide the funds necessary for FTX’s reopening.
