The US-based media outlet The Wall Street Journal published the interview of John Ray, the trustee appointed to the FTX stock market. According to the news shared by WSJ today, the new FTX CEO wants to bring the stock market back to life.
The boss of the sunken cryptocurrency exchange, in his statement, stated that he applied to the relevant units for the FTX.com exchange to become operational.
The news shared by the Wall Street Journal made an impact on social media in a short time. Some of the crypto lovers welcomed the news positively. However, cautious investors do not think that a dirty stock market can work efficiently again.
How did FTX go bankrupt?
The sunken cryptocurrency trading platform collapsed after a series of events in November of 2022. The quarrel between Binance and FTX founder Changpeng Zhao – Sam Bankman-Fried turned into a liquidity crisis. Unable to fulfill its obligations to its customers, the stock market went bankrupt as a result of excessive demand.
The bankruptcy of the giant stock exchange turned into a scandal after it was revealed that Bankman-Fried used client funds for subsidiary Alamenda Research. Sam Bankman-Fried’s house arrest and trial continues in the United States.
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