John Ray III, the new CEO of FTX, is hinting at the possibility of the crypto exchange being rebooted. According to Ray’s latest legal billings, he spent 6.7 hours on items related to “2.0”.
The CEO was reviewing and finalizing 2.0 reboot of exchange material for distribution and went through the 2.0 bidder list. Although there has not been an official announcement yet, Ray has expressed his willingness to explore the option of rebooting the exchange.
However, many have suggested that such a reboot would be highly improbable due to persistent technical issues and software bugs that were the cause of FTX’s financial collapse in 2022.
In response to the news, FTX’s FTT token jumped as much as 12%, before dropping back again. Currently, FTT is trading at $1.07, up nearly 9% in the last 24 hrs. This is still a significant drop from its all time high of $85.02 back in September 2021.
It remains to be seen if FTX will make a comeback, and whether it will be able to overcome the technical issues that led to its downfall. Investors should do their own research before investing in cryptocurrencies.