According to The Wall Street Journal, the FTX cryptocurrency exchange, which went bankrupt in November 2022 and affected the entire cryptocurrency industry, is working to find funds to restart the project.
The Wall Street Journal published a study into the fate of crypto exchange FTX, whose former boss remains under arrest as part of the investigation into embezzlement of client funds. According to the publication, the new CEO, John Ray, plans to restart the project in the near future, offering former clients compensation in the form of shares in the company.
Sources of the publication inform that the company is currently negotiating with possible investors to obtain financing. Interested parties include the figure of the crypto lender. It is also known that applications from investors to participate in the new project will be collected before the end of the week, after which the next stage will begin.
The new company is expected not to be called FTX 2.0 or refer in any way to the failing crypto exchange. The project will most likely undergo a complete rebrand, disowning any legacy from former CEO Sam Bankman-Fried.
Author:
Grigory Shcheglov
Source: RB
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