FTX Could Come Back?

In case you missed it: FTX CEO John Ray told the Wall Street Journal that FTX could, possibly, rise from the dead. ☠️

Ray confirmed that a task force is looking into restarting FTX.com. The decision is based solely on if the value proposition for re-opening the exchange is better than liquidating the assets. 

The FTT token spiked over 30% on the news, with the $FTT.X ticker triggering unusual message volume on the Stocktwits app. 

Even SBF had to voice his opinion:

What kind of ramifications a reopening of the exchange would have on the crypto market is unknown – especially to big firms that are major creditors.

For example, one of Digital Currency Group’s major subsidiaries, Genesis, filed for bankruptcy today. Genesis is the largest creditor of FTX, with $266 million in claims. 

Regarding when/if FTX.US will/would reopen, nothing definite has been released yet. 🤷‍♂️

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