Skip to content

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 FTX.com exchange." Now, I don't know about you, but that sounds like a desperate plea for a lifeline to me.

This post is for subscribers only

Subscribe

Already have an account? Sign In

Latest

ETH Has a Narrative Problem

ETH Has a Narrative Problem

The token is at a 14-month low, ETF outflows are at a record streak, and the 'Ethereum not ETH' argument is gaining ground. Bankless co-founder Ryan Adams says that argument is precisely the problem.