Coin

<ul class="news-points"> 
 <li>Kraken FX co-founder Jesse Powell says an FTX relaunch might be worse than starting afresh.</li> 
 <li>FTX unveiled a draft plan to relaunch on Monday, including proposals for an offshore company and repayments.</li> 
 <li>A group representing FTX customers has criticized different aspects of the draft plan.</li> 
</ul> 
Days after FTX unveiled a reboot plan, Kraken FX co-founder Jesse Powell said an FTX relaunch might be worse than starting from scratch. Under its new leadership, the bankrupt crypto exchange unveiled a new <a href="https://coinedition.com/ftx-unveils-customer-reimbursement-plan-proposes-to-restart-ftx-com/" rel="noopener noreferrer nofollow">plan to relaunch</a> and pay off its debts on Monday. However, there is a lot of skepticism about whether the plan would work out.&nbsp; 
According to Powell, FTX, in its current state, would struggle to accomplish anything in the market. First, the tarnished brand means customers would be wary of the platform. Likewise, the company has no team, licenses, or banking, all of which are essential to running properly. 
To Powell, the relaunch is a way to extract fees from “delusional creditors.” Instead, he suggests that the team auction off its domain name and restart under a new platform. 
Since its infamous collapse last year, <a href="https://coinedition.com/tag/ftx-news/" rel="noopener noreferrer nofollow">FTX</a> has become embroiled in a myriad of issues. T… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/ftx-reboot-worse-than-starting-from-scratch-kraken-co-founder/">FTX Reboot ‘Worse Than Starting From Scratch’: Kraken Co-founder</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

FTX Reboot ‘Worse Than Starting From Scratch’: Kraken Co-founder

Coin Edition

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