- Former Enron restructuring Chief Ray has promised to investigate all viable options.
- Ray claims that some customers have praised the company’s technology.
John J. Ray III, the company’s newly appointed CEO, has said that he is looking at reviving the bankrupt cryptocurrency exchange. While also making good on debts to FTX’s customers and creditors. Former Enron restructuring Chief Ray has promised to investigate all viable options and implement the best ones.
In his first interview since becoming CEO in November. Ray said that he has formed a task group to look into the prospect of relaunching FTX. He claims that some customers have praised the company’s technology. And indicated there may be worth in relaunching the platform. Despite the fact that high-level executives at FTX have been suspected of criminal conduct.
The new FTX CEO was quoted as saying:
“Everything is on the table. There are stakeholders we’re working with who’ve identified what they see as a viable business.”
Recovered $5B in Cash and Crypto
Whether FTX should have filed for bankruptcy in 2022 is an issue that Ray and its founder, Sam Bankman-Fried, can’t seem to agree on. According to SBF, FTX’s choice to file for Chapter 11 bankruptcy protection was a bad one, and the firm has also taken issue with how Ray has handled the crisis. Bankman-Fried’s comments were “unhelpful and self-serving,” according to Ray.
As a result, Ray says they “don’t need to be dialoguing with him,” since he didn’t provide any information that wasn’t previously known to the restructuring group. The company’s CEO, Ray, and his staff just completed a “Herculean effort” to organize the company’s finances, which included finding $5 billion in cash and liquid cryptocurrencies.
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