The second largest in the world, which declared bankruptcy in the past months cryptocurrency exchange FTXprepares to reopen its operations. The new CEO of the company, John Ray III, said in his last interview that they were investigating whether it would be right to reopen the stock market. But what about former FTX customers?
The bells are ringing again for the FTX exchange
According to the company’s new CEO, John Ray III, cryptocurrency exchange FTX, which filed for bankruptcy in November, is preparing to resume operations. In an interview with The Wall Street Journal, Ray explained that they are considering reviving the stock market, saying that they examine every issue. He said that they formed a new team within the team.
John Ray III is assessing whether relaunching the main exchange will provide more value to its customers and creditors. The company’s first purpose after filing bankruptcy was to restore lost funds to its customers.
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According to the company’s previous statement, FTX borrowers will receive $1.7 billion in cash, $3.5 billion in crypto assets and $3 million in securities. In total this is about $5.5 billion liquid assets means. CEO Ray said the firm’s financial situation is “excellent for now.”
Ray and his team are investigating the possibility of restarting FTX, as well as unauthorized third-party transfers after filing for bankruptcy. Borrowers associated with FTX.com $1.6 billion digital assets detected an unauthorized transfer of $323 million.
Approximately $426 million was transferred to cold wallets controlled by the Bahamas Securities Commission, and $742 million to cold wallets controlled by FTX borrowers. While the situation is still uncertain, significant progress has been made in reclaiming lost funds.
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