FTX is reportedly looking to revive its crypto exchange, according to Wall Street Journal report.
The once-leading crypto exchange FTX which suffered a spectacular collapse and filed for Chapter 11 bankruptcy in November 2022, is reportedly exploring the possibility of reviving the FTX.com exchange.
The Wall Street Journal reports that FTX’s newly appointed CEO, John Ray, said the company has begun “the process of soliciting interested parties to the reboot of the FTX.com exchange.”
FTX experienced a severe liquidity crisis in November, prompting customers to withdraw an estimated $6 billion over fear that their assets were unsafe on the exchange. The Sam Bankman-Fried (SBF) led crypto empire collapsed after news broke that FTX and its sister trading firm Alameda Research had been sharing assets to boost the company’s balance sheet.
FTX’s improper trading of customer funds via Alameda saw SBF step down as CEO of the exchange. The disgraced CEO was charged with various federa
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