FTT Token rockets 100% as crypto exchange FTX considers relaunch

FTT Token ( FTT-USD ) surged 102.7% in Wednesday mid-afternoon trading after attorney's representing bankrupt FTX told a court in Delaware that the cryptocurrency exchange is considering reopening in Q2, according to media reports. FTX filed for bankruptcy protection last November after traders pulled billions of dollars from the centralized platform that was led by Sam Bankman-Fried at the time. John Ray, the new FTX CEO, attributed the downfall to poor record keeping and a lack of internal controls, as he navigates bankruptcy. In addition, the attorneys from Sullivan & Cromwell also reportedly said FTX has recovered more than $7.3B in cash and crypto assets, up significantly from January's $1.9B mark, in a sign that the company is making progress in its efforts to repay creditors . More on the Crypto Clampdown Crypto exchange Binance suffers $2B in outflows as woes pile up G-7 said to promote tougher crypto rules amid global banking drama Coinbase Stock Is Up 80% This Year: Why It's Time To Be Cautious Bit Digital: Turning Bits Into Bytes