New FTX CEO John Jay Ray III Considers Restarting Crypto Exchange And The Coins Value Has Increased By 85% In The Past Seven Days

January 19, 2023

In November of 2022, FTX’s CEO stepped down and the company filed for bankruptcy, resulting in a new CEO, John Jay Ray III.  

  • The CEO is currently overlooking the bankruptcy proceedings of FTX in the United States. He states that the exchange that could make a comeback is FTX.com, which was operating on a global level. 
  • $5B in assets were recently “discovered”, of which $529M is FTT. 
  • Perhaps this news has boosted FTT’s price.

FTT opened at $2.2556 (Jan 19, 2023) and has since increased by 29% at time of writing. The past seven days the coin’s value has increased by about 85%.

Image from TradingView: FTT-BUSD 1hr interval, Jan 12 to Jan 19, 2023.

Image from TradingView: FTT-BUSD 15m intervals, Jan 19, 2023.

The tricky part of FTT’s rise is how much of that value can be captured. Selling their assets of FTT would likely drop the price significantly. This news is still in the process of being developed. For now, all we know is that FTT has increased at a rapid rate and John Jay Ray III believes that FTX might just be able to make a comeback. Only time will tell.  

If you found this helpful, Subscribe to The Art of the Bubble’s free newsletter.

Join us on Discord for live chat and daily updates. Find us on Twitter too.

You found this content helpful ?

  1. 1
    Join our free weekly "Bubble Bulletin" for more
  2. 2
    Join us on Discord for live chat and daily updates
  3. 3
    Follow us on Twitter
  4. 4
    Share this content using the buttons below :

Disclaimer

This piece of content is provided for educational and entertainment purposes only. Robin Technologies and Analytics LLC is the firm that distributes 1.2 Labs products. The firm does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Robin Technologies and Analytics LLC registered as an investment adviser or broker-dealer in any jurisdiction.

You should expect no financial returns one way or another based on statements contained herein. These points hold equally for any statements that could be attributed to The Art of The Bubble or any related business entities or personnel operating in association with Robin Technologies and Analytics LLC.

If you decide to buy or invest in anything, then your returns and potential losses are your own. No statements about taxation are taxable advice and you are encouraged to consult your own tax professional. You are also encouraged to do your own due diligence before investing in anything.

RELATED POSTS:

January 29, 2023

September 4, 2022

July 19, 2023

November 9, 2022

September 1, 2022

October 13, 2022

January 15, 2023

July 4, 2021

May 8, 2024

LATEST POSTS:

June 13, 2024

June 11, 2024

June 10, 2024

June 6, 2024

June 5, 2024

June 4, 2024

June 3, 2024

May 29, 2024

May 28, 2024

What do do now?

Join the free 1.2 Labs "Bubble Trading" Bulletin for new trading strategies, macro & sentiment analysis and occasional free airdrops