According to a recent court filing, FTX, the crypto exchange that filed for bankruptcy last year, is working on a plan to relaunch its operations under a new name: FTX 2.0
Court Documents Show an FTX Reboot Could Be in the Works
According to a recent court filing, FTX, the crypto exchange that filed for bankruptcy last year, is working on a plan to relaunch its operations under a new name: FTX 2.0. The filing reveals that John Ray III, the new CEO of FTX, has been busy meeting with creditors and debtors to discuss the best way to restructure the exchange and repay its debts.
The filing also states that Ray has been preparing the materials needed for rebooting the exchange, which could happen by the second quarter of 2024. Ray first announced his intention to revive FTX in January, after discovering that the exchange had $5.5 billion in liquid assets. In April, he reported that the amount had increased to $7.3 billion.