The Blubber

Per Reuters

The new FTX CEO John Ray shared a statement as cited on Wall Street Journal regarding the company's plans to revive its crypto exchange. Per the new CEO replacing former Sam Bankman-Fried, it was reported that interested parties are being approached regarding a potential relaunch.

Ray: "(The company) has begun the process of soliciting interested parties to the reboot of the FTX.com exchange,"

The potential revival of the crypto exchange could be in a form of a joint venture, per familiar sources. Per The Block, Kevin Cofsky, a Perella Weinberg Partners partner, gave a statement regarding his task of "exploring the restructuring and capital market opportunities for the FTX Group."

Cofsky: "We have also already engaged in a significant outreach process with respect to solicitation of third party interest in participating in a process to either acquire, invest into or reorganize the FTX exchange and based on those conversations,"

When FTX CEO John Ray took over in November, he said that never in his career has he seen "such a complete failure." This came as he was hired to steer FTX Group through bankruptcy.

In April, there were already talks going on about how FTX was considering restarting its crypto exchange in the second quarter.

See flow at unusualwhales.com/flow.

Other News:

• FTX’s new CEO John Ray has said: Never in my career have I seen such a complete failure
• FTX will consider restarting its crypto exchange in the second quarter

Resources:

Reuters