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FTX 2.0 Confirmed: Rebirth of the Doomed Crypto Exchange FTX?

source-logo  thenewscrypto.com 23 May 2023 04:44, UTC
  • FTX CEO John Ray III charged $290K for involving in the exchange’s revival plans.
  • The 24-hour trading volume of the native token FTT jumped 263%

FTX CEO John Ray III confirms the plans to reboot the operations of the ‘dead FTX’ exchange. On Monday, a court filing involving FTX Trading Ltd. at the United States Bankruptcy Court for the District of Delaware revealed the FTX 2.0 plans to the limelight.

Significantly, the filing report clearly outlined the plans and activities of the current FTX CEO — from the sales of LedgerX and Embed, the relaunch of FTX Japan to FTX 2.0, and its bidders’ list.

(Source: Court Filing by FTX Trading Ltd.)

Notably, the report also revealed that John Ray charged the exchange a compensation of $290,160 for the 223.2 working hours.

FTX 2.0 Advocates at Forefront

Currently, Crypto Twitter stages sensational talks of FTX 2.0. Among them, the coalition of FTX creditors and users, led by @AFTXcreditor and @loomdart, lead the exchange’s resurrection rally. Major crypto critics and communities question the objective of this relaunch.

To which, the “FTX 2.0 Advocate” loomdart commented:

“This is unironically a way to build what FTX was originally meant to be and help make something that betters the entire crypto space.”

With the motive to address the crypto community about the FTX creditors’ activities, the Twitter account FTX 2.0 Coalition is hosting a Twitter Space on Thursday. Moreover, investors and traders anticipate the official unveiling of the bidders’ list and roadmap of the exchange’s reboot.

Eventually, this FTX 2.0 speculation induced spikes in the FTX Token (FTT) — over 8% in price and 263% in trading volume — in the last 24 hours. At press time, FTT traded at $1.07.