scorecardresearch

New FTX chief says bankrupt crypto exchange could restart – WSJ

The future of customer funds, however, remains unclear. Earlier this week, FTX said in a report to creditors

New FTX chief says bankrupt crypto exchange could restart – WSJ
Earlier this week, FTX said in a report to creditors that hackers stole about $415 million in crypto from its international and U.S. exchanges

Bankrupt crypto exchange FTX is looking into the possibility of reviving its business, Chief Executive Officer John Ray told the Wall Street Journal on Thursday.

Ray, who took over the reins in November, has set up a task force to explore restarting FTX.com, the company’s main international exchange, he said in an interview with the WSJ.

Ray was looking into whether reviving it would recover more value for the company’s customers than his team could get from simply liquidating assets or selling the platform, according to the WSJ report.

Sam Bankman-Fried, the founder and former CEO of FTX, has been accused of stealing billions of dollars from the exchange’s customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research. He has pleaded not guilty to fraud charges.

The future of customer funds, however, remains unclear. Earlier this week, FTX said in a report to creditors

that hackers stole about $415 million in crypto from its international and U.S. exchanges since its bankruptcy in November.

Follow us on TwitterFacebookLinkedIn

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 20-01-2023 at 10:32:17 am