FTT token price soars after FTX CEO floats exchange restart

FTT, the token tied to bankrupt crypto exchange FTX, shot up 30% after the exchange’s new CEO suggested that FTX.com might be restarted.

The token was trading at around $2.28 as of 11:20 a.m. ET, according to data from TradingView.

John Ray III, who is overseeing the bankruptcy and restructuring of the FTX business empire, said that he had put together a task force to explore restarting FTX.com, according to an interview with the Wall Street Journal.

FTT Price Chart via TradingView

«If there is a path forward on that, then we will not only explore that, we’ll do it,» he said. «There are stakeholders we’re working with who’ve identified what they see is a viable business.»

Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from former FTX and Alameda founder Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.

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