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Rebooting FTX is a Terrible Idea

After a spectacular crash and burn, they're dusting off the ashes and trying to rise like a phoenix. But this is one bird that should stay grounded.

Image: London School of Hygiene and Tropical Medicine

You've probably heard the news: FTX, the failed crypto company, is planning a comeback.

The exchange's CEO, John J. Ray III, who took over the reins in November when the exchange filed for bankruptcy, is now spearheading the reboot. He's quoted as saying, "The company has begun the process of soliciting interested parties to the reboot of the exchange." Now, I don't know about you, but that sounds like a desperate plea for a lifeline to me.

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