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FTX In Talks To Restart Crypto Exchange

FTX, the cryptocurrency exchange that collapsed into bankruptcy last year, is in talks to revive its international operations.

The Wall Street Journal newspaper is reporting that John Ray, who has been appointed the interim chief executive officer (CEO) of FTX as it works through the bankruptcy process, is trying to reboot the exchange.

The failed company is reportedly holding talks with investors about possibly restarting as a joint venture.

FTX filed for bankruptcy on November 11, 2022, citing $8 billion U.S. in missing funds and more than one million creditors.

John Ray was appointed the interim CEO of FTX shortly after the bankruptcy filing.

The failure of FTX caused a downturn in the cryptocurrency market and led regulators around the world to crackdown on the industry. Crypto prices have since recovered this year.

Sam Bankman-Fried, the former CEO of FTX, has been charged with multiple counts of fraud and securities violations in the U.S. His trial is expected to take place in New York City this fall.

It is not clear if a restart of will actually occur or when that might happen.