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Dreams of Rebooting FTX Face Cold Reality That Its Technology Wasn’t Well-Regarded

When the new boss of FTX, John J. Ray III, told The Wall Street Journal in January that he was thinking of rebooting the disgraced cryptocurrency exchange, the comment made a splash in the industry. But interviews with major trading firms who once did business at FTX raise questions about whether there’s really anything worth bringing back, possibly explaining why no public progress has been made since Ray’s ear-catching comments two months ago.When the new boss of FTX, John J. Ray III, told The Wall Street Journal in January that he was thinking of rebooting the disgraced cryptocurrency exchange, the comment made a splash in the industry. But interviews with major trading firms who once did business at FTX raise questions about whether there’s really anything worth bringing back, possibly explaining why no public progress has been made since Ray’s ear-catching comments two months ago.[#item_full_content]

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Oliver Knight, Helene Braun