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FTX 2.0 rumors resurface in CEO’s legal billings
Contents of the latest billing report from the new CEO of ftx, John Ray III, has revived hopes that the bankrupt exchange could reopen. Ray, who was appointed to steer FTX’s ship during the bankruptcy process, hinted at a possible restart in January. And now, the latest billing report suggests that work is already underway to make FTX 2.0 a reality.
Per AdmissionRay spent more than 6.5 hours poring over items labeled “2.0,” which is believed to represent FTX 2.0, a daring revival of the defunct exchange.
Meanwhile, it may be noted that no official statement has been released in confirmation of the exchange’s plans to restart. Rai, however, did not rule out the possibility. Speaking with The Wall Street Journal in January, Ray Said The company will explore all available options including reboot. He said, “If there’s a way forward on that, we’ll not only find it, we’ll do it.”
In April, Andy Dietreich, FTX’s lead attorney, also echoed Ray’s views. He indicated that the exchange is considering a restart as one of several possible scenarios. He was quick to add, however, that restarting would cost a significant amount of capital, and that no decisions had yet been made.
FTX 2.0 receives rare support amid industry backlash
For what it’s worth, VC firm Tribe Capital has reportedly indicated its interest in fundraising to restart the exchange. This is despite the widespread criticism that has dogged such plans as many industry stakeholders believe that FTX 2.0 may not be the way to go.
Their arguments are based on the fact that FTX has always had technical issues, software bugs and very high latency since its inception. As a matter of fact, it is widely believed that these issues were ultimately responsible for the exchange. great accident In 2022. Therefore, considering all the effort it will take to fix bugs and get FTX’s trading engine running again, building an entirely new exchange from scratch may be a better option. This is not to mention the stuff that now comes with the ‘FTX’ name as it’s humiliating fall from grace.
FTX 2.0 rumors resurface in CEO’s legal billings
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