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.

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"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.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).

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