FTX 2.0: Crypto Exchange Returns From the Dead!
• FTX CEO John Ray III confirms the plans to reboot the operations of the ‘dead FTX’ exchange. He charged a compensation of $290,160 for 223.2 working hours.
• Crypto Twitter stages sensational talks of FTX 2.0 and a coalition of FTX creditors and users led by @AFTXcreditor and @loomdart are leading its resurrection rally.
• The speculation induced spikes in the FTX Token (FTT) — over 8% in price and 263% in trading volume — in the last 24 hours.
Rebirth of Doomed Crypto Exchange FTX Confirmed
FTX CEO John Ray III confirmed the plans to reboot the operations of the ‘dead FTX’ exchange on Monday with a court filing involving FTX Trading Ltd., outlining his plans and activities from sales of LedgerX and Embed, relaunch of FTX Japan to FTX 2.0, and bidders’ list. The report also revealed that he charged a compensation of $290,160 for 223.2 working hours spent on his revival plans.
Crypto Twitter Stages Sensational Talks Around Revival Plans
Crypto Twitter is abuzz with sensational talks around reviving exchanging operations as a coalition formed by FTX creditors & users lead by @AFTXcreditor and @loomdart take charge of this mission, addressing crypto community about their activities through a Twitter Space scheduled on Thursday. Investors & traders anticipate official unveiling of bidders’ list & roadmap for exchange’s reboot while speculations have resulted in an increase in prices & trading volumes for native token FTT – 8% & 263%, respectively within 24 hours at press time when it traded at $1.07 .
Background Of Failed Exchange
FTX Trading Ltd., was established as an offshore company registered in Seychelles in July 2018 with ambition to become one of leading exchanges globally but unfortunately went bankrupt due to poor execution strategy coupled with team members leaving mid-way into project due to lack of clarity from top level management which could not deliver sustainable model for success given competitive landscape amongst existing exchanges providing similar services .
What Are The Plans Of Relaunching?
The current CEO & founder John Ray III has taken it upon himself to bring back this failed exchange along with its services hoping that new strategies would help them succeed where they had failed before by streamlining processes better, focusing on customer service more than ever before & creating strong partnerships across different industry verticals so as to stand out against competition rather than just being another crypto offering platform like others .
It remains uncertain how successful these efforts will be given past history but investors seem optimistic amidst all hype surrounding relaunch news which has already caused surge in prices & trading volumes for native token FTT suggesting bullish sentiment amongst market participants who believe that this could be beginning something bigger than what was originally envisioned when first established 5 years ago!