In his first interview since becoming the head of FTX in November, John Ray III, revealed to the Wall Street Journal that he is considering the option of relaunching the bankrupt cryptocurrency exchange.

FTX’s new leader, John Ray III, has reportedly established a task force to investigate the possibility of relaunching the failed cryptocurrency exchange. Ray stated that all options are being considered, including the potential of reviving FTX’s international exchange as a means of recovering value for customers, rather than liquidating assets or selling the platform.

The company had identified $5.5 billion in liquid assets as part of an effort to untangle its finances. FTX filed for bankruptcy in November and its former CEO, Sam Bankman-Fried, was charged by U.S authorities soon after.

John Ray III and Sam Bankman-Fried, the former CEO of FTX, are in disagreement over the exchange’s bankruptcy filing. Bankman-Fried has criticized the filing as a mistake and the way it was handled by Ray, while Ray has dismissed Bankman-Fried’s comments as unhelpful and self-serving.

Bankman-Fried has been accused by the Justice Department of misusing customer funds for personal use, political contributions, and to repay loans from his own crypto hedge fund, Alameda Research. The Securities and Exchange Commission and the Commodity Futures Trading Commission have also brought charges against him.

The FTX token (FTT) saw a 38% increase in value on Binance following the announcement of the possibility of relaunching the bankrupt crypto exchange.

Former FTX US President States That Relationship With SBF Has Completely Deteriorated

In a lengthy Twitter thread, Brett Harrison, the former President of FTX US, recounted his experiences at the company and detailed the reasons for his departure. He stated that working with Sam Bankman-Fried was difficult due to his emotionally unstable behavior, avoidance of conflicts, resistance to criticism, and exclusion from key decision-making discussions.