John Ray Says Reviving FTX is on the Table: Report
The acting Chief Executive Officer of FTX, John J. Ray III, who is in charge of making sure that the creditors of the bankrupt exchange receive as much compensation as possible, said that the platform might restart.
- In an interview with The Wall Street Journal, John J. Ray III said that restarting the exchange is on the table.
Everything is on the table. If there is a path forward on that, then we will not only explore that, we will do it.
- FTX filed for Bankruptcy back in November 2022, using Chapter 11.
- Mr. Ray further clarified that he will be looking into whether restarting the international exchange would recover more value for the company’s creditors than his team could potentially get from simply liquidating the assets or selling the entire thing.
There are stakeholders we’re working with who’ve identified what they see as a viable business.
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