According to John Ray III, it is a question of knowing what would better allow the reimbursement of damaged customers between the revival of the FTX group and the sale of the company’s subsidiaries.

John Ray III, who took over the reins of FTX after its bankruptcy last November, is currently evaluating the possibility of reviving the FTX.com group. FTT price calmly gained more than 40%.

The new CEO of FTX in force since the stock’s bankruptcy and the retirement of Sam Bankman-Fried, claims to have established a task force dedicated to relaunching the FTX.com group.

Is a Return of FTX Possible?

According to John Ray III, although some people in key positions in the company may have taken reprehensible actions, the fact is that FTX has some potential.

John Ray III has some experience in restructuring bankrupt companies, having himself been active in repaying the creditors of the energy giant Enron Corp in the early 2000s. Said amounts to be returned then reached 10 figures, as well as the sum of the debts owed today by FTX, although as of today the exact amount of the latter is unknown.

Even so, the amounts raised so far by the stock market’s new management shed some light on this dark panorama. Sure enough, at the beginning of the month, FTX was reporting more than $5 billion in recovered assets, much more than originally anticipated.

Reimbursement of Targeted Injured Customers

According to FTX’s new CEO, the decisive element in this decision-making will be the reimbursement of the exchange clients being affected. Thus, the question will be to know what will generate more economic value between a restart of FTX, or the sale of the group and its subsidiaries.

Currently, the price of FTT is around 2.24, which reflects an increase of almost 140% in its value in the last 30 days. However, it remains far from its peak price (ATH) of $84 reached in early September 2021.

However, it will all be to restore some order to the books of FTX. According to Mr. Ray, who says he had never seen this in his entire career, Sam Bankman-Fried and his partners sometimes kept no record of multi-million dollar transactions, which the CEO also describes as a “spending spree.”

FTX teams, which have been extensively vetted, are currently going through over thirty terabytes of data belonging to FTX, in hopes of getting new assets. They also reportedly managed to grab several wallets from the exchange in the last week alone.

The market reacted strongly to the announcement, as FTT, the utility token of the failing exchange, was able to perform an intraday rally on the order of +40%.

Currently, the price of FTT is around $2.24, which reflects an increase of almost 140% in its value in the last 30 days. However, it remains far from its peak price (ATH) of $84, reached in early September 2021.

By Audy Castaneda

Cryptocurrencies associated with high risk, but could generate high returns, are discussed.

The crypto market has again been in an uptrend for the past 2-3 weeks. This means that many small investors are reconsidering whether and which cryptocurrencies they want to invest in. There are relatively “safe” currencies like Bitcoin or Litecoin, but also very high-risk cryptocurrencies.

In the past few weeks, most cryptocurrency prices have experienced a large increase. The Bitcoin price has risen from $16,500, at the beginning of the year, to over $21,000 in recent days. Ethereum also saw an equally strong percentage increase. Many other altcoins saw even stronger percentage increases.

Subprime cryptocurrencies are currencies that, in theory, could generate extremely strong gains. However, there is also a high risk that these coins will lose price massively, or even completely implode in value, in the coming weeks and months.

On the other hand, these high-risk cryptocurrencies also offer a certain chance that their value will increase considerably. Its price is particularly heavily based on speculation. This allows for high profits in the short term. However, many investors have already lost significant amounts of money on such investments.

Below are the four high-risk cryptocurrencies that will be buyable in 2023.

XRP Coin

The XRP coin is part of the Ripple payment network and had a lot of publicity, especially at the end of the year 2017/2018. Meanwhile, however, Ripple’s legal dispute with the American stock exchange supervisory authority SEC is over the currency.

If Ripple loses this lawsuit, the XRP course could implode. However, a lawsuit victory could result in a price explosion. Therefore, the XRP coin is currently seen as number 1 when it comes to “high-risk cryptocurrencies”.

Shiba Inu Coin

The Shiba Inu coin is the second biggest meme coin and started out as a parody of Dogecoin. In 2021, it saw extreme price increases in a very short time. Nevertheless, investors who bought late suffered losses. This happened because meme coins are extremely volatile, thus their price can quickly drop.

Dogecoin

Dogecoin is the first ever meme coin and started as a parody of Bitcoin. Since then, it has had multiple bull markets and even a bear market. This means that Dogecoin has proven itself longer than Shiba Inu Coin. Still, the currency is highly volatile and can experience both extreme rises and extreme falls in value.

Solana (SOL token)

As the last coin in the category “high-risk cryptocurrencies” is the SOL token from the Solana network. Solana is very popular due to its high scalability, but it is also heavily criticized. The connections to Sam Bankman-Fried and FTX, as well as the previous network blocks, are cause for concern. A scenario like Terra (LUNA) cannot be ruled out. However, profits are likely to be very high.

By Audy Castaneda

These are ADAPAD, ZEE, and GZONE, ordered by their market capitalization from smallest to largest.

In essence, launch pads serve as platforms for the start of cryptocurrency companies. For cryptocurrency companies and initiatives that want to launch their coins, they act as incubators. These launch pads have a unique token that they use to operate the system. The total market capitalization of Launchpad Token is $401,265,026 and the total trading volume is $71,652,944.

ADA Pad (ADAPAD)

Price unit: $0.01072

Market Cap: $1,257,507

Distinct Features: ADAPad will feature several deflationary triggers tied to selling, de-parting, and IDO-participation. It describes itself as the first deflationary launch pad for the Cardano ecosystem, whose main goal is to serve as an incubator program for new Cardano ideas.

One of ADAPad’s main deflationary strategies is a 10% fee on all token sales, as well as early withdrawal costs of up to 25%.

Recently, the Cardano Foundation announced the Alonzo upgrade, which will make the Cardano ecosystem capable of supporting smart contracts and decentralized finance. As a result, there will likely be an increase in projects using launch pads like ADAPad and IDO on Cardano.

ADAPAD is currently trading live on the Gate.io exchange.

Zero Swap (ZEE)

Price unit: $0.02279

Market Cap: $1,445,854

Distinct Features: Users will no longer pay transaction fees to miners, as the team has created meta transactions that will cover the cost of gas on their behalf.

Users will have access to a gas-free and easy method of multi-chain exchange using Zero Swap. Through meta transactions, consumers are compensated for the gas used during on-chain trades.

The project is operational on Polygon, Avalanche, Fantom, Binance Smart Chain, Optimism, CELO, Aurora, and Ethereum Chain. Products can be accessed from any dApp browser or mobile wallet; It has been updated to be compatible with mobile devices.

Gasless ZeroSwapDEX, Staking, the IDO ZeeDO platform, the native two-way bridge, as well as a B2B service-based product called the DeFi Wizard, are other components of the product package.

ZEE is currently trading live on CoinW, KuCoin, Gate.io, MEXC, and ProBit Global.

GameZone (GZONE)

Playground (GZONE)

Price unit: $0.0224

Market Cap: $1,434,071

Distinct Features: The most promising startups and projects will be chosen and supported by your new incubator program, giving them marquee status across our ecosystem of launch pads.

Assignments via GameZone’s tier-based approach allow everyone to get an early stake in the most popular Blockchain-enabled games.

Higher tiers gain access to better allocation packs, which may contain more and/or rarer NFTs, more tokens, or a more advantageous NFT to token ratio.

The GZONE token is embedded at the core of the GameZone ecosystem of products and is intended to serve both as a gateway to many of the games the company has collaborated with and as a requirement to participate in Initial Game Offerings (IGOs). ) and initial NFT offerings ( INO).

GZONE is currently trading live on Gate.io, MEXC, and PancakeSwap (V2).

By Audy Castaneda