FTX’s native token FTT FTT/USD soared over 24% in the past 24 hours, after the company’s new CEO John J. Ray III, said that he was exploring ways to revive the defunct exchange that was formerly run by Sam Bankman-Fried.
What Happened: In an interview with The Wall Street Journal, Ray said that a task group has been established to evaluate the possibility of reviving the company's main international exchange, FTX.com.
See More: Best Crypto Day Trading Strategies
“Everything is on the table,” Ray said to the Journal. “If there is a path forward on that, then we will not only explore that, we’ll do it.”
FTT has seen a 160% rise since its all-time low of $0.82 on Dec 30, according to CoinMarketCap data. Despite the catastrophic failure of FTX, the token's value has never plummeted to zero.
Price Action: At the time of writing, FTT was trading at $2.33, according to Benzinga Pro.
Read Next: Bitcoin Regains $21K, Ethereum, Dogecoin Spike On FTX Revival Hopes
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Get ready to uncover the secrets of decentralized finance and security in the crypto market with Crypto Unlocked , Benzinga's new virtual crypto event series. Don't miss out on this opportunity to learn from the experts and connect with fellow crypto enthusiasts — subscribe and turn on notifications for Crypto Unlocked on YouTube today !