FTX CEO John Ray III plans to reboot the company; the crypto world is calling it FTX 2.0.

FTX: Ruins of an Empire

FTX was founded by crypto scammer SBF, based on a scam that was skillfully expanded into a crypto empire. It was enhanced by giving "contributions" to politicians and authorities. But as soon as its fraud became apparent, it collapsed. John Ray III, its new CEO, aims to revive it.

Restoration initiatives

This time, FTX has been officially declared bankrupt. It's also unknown what CEO John Ray III has in mind, but the firm is conducting meetings to work on relaunching it, thus it appears that FTX will engage in a bidding process. This has also benefitted FTT, the native token of FTX. Its worth has suddenly increased, which is good news for it.

Will the updated FTX be welcomed?

It's difficult to predict if this will be embraced by cryptocurrency investors. Although nobody has expressed an interest, anything might happen with enough future buzz, just as LUNA's Classic and Reboot 2.0 Tokens found investors.