It’s no more news the downfall of FTX, which was once one of the largest crypto exchanges, impacted so many individuals, including companies leaving most of them filing for bankruptcy.
Many individuals, on the other hand, who had their funds in the cryptocurrency exchange before its crash, have been in disbelief, causing some to give up on the crypto industry as a whole while some choose to stay no matter the circumstances.
Part of the strong-headed ones who still have hope in the crypto market and chose to stay have now come up with an idea on how FTX could thrive and resurrect.
Crypto Influencer Pitches an Idea To FTX
Crypto influencer Ran Neuner who claims to be a CNBC Trader, earlier today suggested an idea to FTX on how it could rise back and retrieve its position as one of the biggest cryptocurrency exchanges.
Per the tweet, Ran believes issuing a new FTT token to pay off creditors could resurrect FTX and make it the biggest exchange in the world while also making users more whole.
Ran tweeted on Friday morning, today noting, “Fire up the FTX exchange. Issue a new FTT token. Distribute the token to creditors/depositors. Accrue 100% of profits to token holders. It will be the biggest exchange in the world, and users will be made more than whole.”
SBF Sympathizes With The Idea
As Ran’s tweet appears to be a bright idea, Sam Bankman-Fried, former CEO of the rejuvenated FTX, seemed to resonate with the statement claiming that it would be a productive path for parties to explore.
“I continue to think that this would be a productive path for parties to explore! I *hope* that the teams in place will do so,” SBF replied to Ran’s suggested idea.
Reactions To SBF Concurring With Ran’s Idea
While SBF was trying to sympathize and prove the reviving of FTX could be possible with Ran’s idea, many appeared not to be buying it as the comments were full of criticism and disbelief.
Proclaimed crypto investor and trader Grey Jabari commented on SBF’s reply, saying, “Not when the founder has shown very little understanding of crypto or how an exchange works. By his own words, he doesn’t understand what happened.”
A tweep with the name Daxx commented, “Lol there’s no chance this will happen. Needed to do that ages ago before bankruptcy filings and chapter 11. Now the lawyers just want to cut it up and make as much money from fees as they can; they don’t care about creditors or customers at all.”
Dominic Taguinod, another tweep, added, “This is SBF literally admitting another ponzi scheme would work and that it’s a good idea.”
Notably, this was after FTX LedgerX, a solvent group unit of the FTX exchange, recently disclosed it would be releasing a sum of $175 million for use in the exchange’s bankruptcy proceedings and to repay FTX’s creditors.