FTX's Native Token Skyrockets 96% As Reports Swirl Of A Possible Relaunch

Troubled cryptocurrency exchange FTX‘s native token FTT (CRYPTO: FTT) is up 96% in the last 24 hours, as news emerged that the exchange may be considering restarting in the future.

What Happened: According to the legal team that represents FTX’s debtors, the cryptocurrency firm has recovered around $7.3 billion in liquid assets as of an April 12 hearing in the United States Bankruptcy Court for the District of Delaware. 

The team also claimed that FTX may restart its crypto exchange operations in the second quarter of 2024. 

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Earlier, FTX’s CEO John Ray had expressed interest in reviving the bankrupt exchange in a January interview.

Price Action: At the time of writing, FTX was trading at $2.57, an increase from the $1 range it had primarily occupied since its bankruptcy filing.

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