Chief executive of FTX, FTX.com, said that the company is investigating the potential of bringing back its international cryptocurrency trading platform. John J. Ray III was the one who told the Wall Street Journal In an interview published Thursday.
See Related article: Bankrupt Lawyers say that the FTX exchange reclaimed US$5 Billion worth of ‘liquid assets.
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Ray According to WSJ, some FTX clients feel that reestablishing the international trading platform is still beneficial even though former executives and founders of the exchange are facing criminal misconduct allegations.
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Ray Apparently, he is looking into whether reviving FTX.com would be a better way to recompense his clients than either selling the exchange or liquidating its assets.
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BahamasLegal partner and a -based exchange Sullivan & Cromwell It was disclosed in a legal document Tuesday FTX.com & FTX US are both available. “substantial shortfall of digital assets.”
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The Disclosure stated that FTX.com had lost approximately $323 million in crypto assets to hackers after filing for bankruptcy. Additionally, $426 million of crypto was transferred. Bahamian authorities. The The team stated that they had accumulated $5.5 billion worth of liquid assets for recovery. This includes $1.6 Billion in crypto assets.
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HoweverThe founder and former CEO Sam Bankman-Fried They claimed that the disclosure regarding FTX US was inaccurate and that the US arm remains solvent. He FTX.com did not respond to our request for comment.
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FTX and its sister hedge fund Alameda Research Forwarded Chapter 11 bankruptcy protection November 11. After falling into a liquidity crises following revelations about inappropriate reserve disclosures and misappropriation,
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Bankman-Fried He was charged with eight charges, including wire fraud as well as conspiracy to launder money. He This month, he pleaded not guilty in fraud charges.
See Related article: Former FTX US CEO Sam Bankman-Fried Rejects Liquidators’ Claim Over Recovered Assets
