TL;DR
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FTX’s new CEO, John J. Ray III, wants to relaunch the exchange
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Here’s the argument against the move: centralized crypto exchanges require a lot of user trust, and FTX absolutely destroyed that trust when it collapsed last year.
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Here’s the argument for the move: to entice users back to the platform, FTX would need to be so stupidly secure, transparent, and compliant… that it could become a selling point.
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Is this enough? Probably not. But this idea is only floated in the hope that FTX can replace the lost money of its users and make it whole again.
Full story
Remember when Myspace came back from the dead and started taking market share from Facebook?
Of course not! It never happened.
The idea of that happening makes more sense to us than the potential resurgence of FTX – but it doesn’t stop FTX’s new CEO, John J. Ray III, from toying with the idea!
Here’s the argument against the move:
Centralized crypto exchanges require a lot of user trust, and FTX absolutely destroyed that trust when it collapsed last year.
A MASSIVE rebrand (the likes of which has not been seen before) would be needed to change people’s gut reaction when they hear the letters ftx mumbled one after the other.
And while crazier things have happened, it all feels too soon for something like this to have a half decent margin of success.
Here’s the argument for the move:
FTX 2.0 is said to be one of the most researched exchanges out there.
To entice users back to the platform, they would have to be so stupidly secure, transparent, and compliant… that it could become a selling point.
The sales pitch is:
“Sam Bankman-Fried is gone, the adults have taken the wheel – and they can’t afford to upset you!”
Is this enough?
Probably not.
But this idea is only floated in the hope that FTX can replace the lost money of its users and make it whole again.
With that in mind, we’ve got our fingers/toes crossed that old John J. can pull off the magic trick.
…that said, we’re not holding our breath.
