FTT token price soars after FTX CEO floats exchange restart

Quick Take

  • FTT is up 3o% following FTX’s new CEO’s comments on the future of the crypto exchange.
  • John Ray III said that the option of restarting the exchange is on the table.

FTT, the token tied to bankrupt crypto exchange FTX, shot up 30% after the exchange's new CEO suggested that FTX.com might be restarted.

The token was trading at around $2.28 as of 11:20 a.m. ET, according to data from TradingView.

John Ray III, who is overseeing the bankruptcy and restructuring of the FTX business empire, said that he had put together a task force to explore restarting FTX.com, according to an interview with the Wall Street Journal.

"If there is a path forward on that, then we will not only explore that, we’ll do it," he said. "There are stakeholders we’re working with who’ve identified what they see is a viable business."

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

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