John Ray III Hopes to Revive FTX Exchange for Creditors
• John Ray, acting CEO of FTX, has stated that restarting the international exchange is on the table.
• FTX filed for Bankruptcy back in November 2022, using Chapter 11.
• Mr. Ray will be looking into whether restarting the international exchange would recover more money for the creditors.
John Ray, the acting Chief Executive Officer of FTX, has recently stated that reviving the international exchange is on the table. This comes after FTX filed for Bankruptcy back in November 2022, using Chapter 11. The exchange’s creditors are now hoping that the revival of the exchange could recover more money for them.
John Ray III made the statement in an interview with The Wall Street Journal. In the interview, he said that “Everything is on the table. If there is a path forward on that, then we will not only explore that, we will do it.” This statement is sure to give some hope to the creditors of FTX, as it indicates that the exchange could be revived in order to recover more money for them.
Mr. Ray went on to clarify that he will be looking into whether restarting the international exchange would recover more money for the creditors. He also indicated that it would depend on whether or not restarting the exchange made sense for making creditors whole. It is unclear at this time what other measures he may be looking into in order to ensure that the creditors are made whole, but the possibility of reviving FTX is certainly something that has been discussed.
It remains to be seen if the exchange will be revived, and if it will recover more money for the creditors. However, the statement from John Ray certainly gives some hope to the creditors of FTX, as they await further news on the matter.