Twitter Divided as Speculations Swirl Around FTX 2.0 Reboot: Supporters Rally for Revival, Opponents Skeptical

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Twitter users have been engaged in a lively discussion about the possibility of a reboot for the FTX estate, following recent reports in late May. Opinions on the matter are divided, with opponents of the idea expressing their reservations, while proponents are receptive to the notion of a revamped FTX 2.0.

FTX Reboot Sparks Twitter Debate

Speculations are circulating about the potential revival of the failed FTX cryptocurrency exchange, despite its staggering collapse and subsequent bankruptcy proceedings. Notably, Flood, a prominent crypto enthusiast on Twitter with a sizable following of 216,000, expressed his willingness to partake in public discourse regarding “FTX 2.0” with its most fervent supporters. Flood disclosed his substantial FTX claim in the range of millions and expressed his current skepticism towards the revival, citing the scarcity of information provided thus far.

The grapevine is abuzz with rumors, speculation, and fervent discussions, all stemming from the recent reports in late May unveiling the efforts of the trading platform’s newly appointed CEO, John Ray III, in delving into a resurrection strategy for the incapacitated cryptocurrency exchange. Reacting to Flood’s tweet, a singular individual chimed in with a reply, “How exactly are you [going] to have FTX 2.0 when the token underpinning its AMM is down 95%?” Another person wrote, “FTX 2.0 won’t work. Terrible idea from new leadership trying to save their new job. Sorry, you lost that amount of money.” One individual stated:

Don’t 2.0 proponents think it’s a little unethical to rope people back into ‘the casino?’

The question has been echoing through the minds of many. “Will you trust FTX 2.0?” inquired the Twitter account known as Whale Chart, only to be promptly met with a resolute response: “I will never support FTX 2.0. Probably controlled by the U.S. government.” Stirring further engagement, an individual initiated a poll, attracting a total of 547 active participants on Twitter as of 8 a.m. Eastern Time on June 18, 2023.

Twitter Polls Emerge and 2.0 Reboot Advocates Come Out of the Woodwork

“Let’s have an FTX 2.0 poll that actually produces useful data and isn’t click-baiting nonsense,” the person tweeted. “If you are a creditor – are you for or against FTX reboot? If you are not a creditor, would you use an FTX 2.0 (i.e. deposit new funds and trade given equivalent incentives)?” As of 8 a.m., the poll results painted a vivid picture of the sentiments among FTX creditors. A striking 49.3% stood in favor of the proposed idea, while 11.7% expressed their opposition. Interestingly, 8.6% of respondents, despite not being creditors themselves, eagerly anticipated utilizing FTX 2.0.

On the other hand, a notable 30.5% declared that they were neither creditors nor inclined to embrace the rebooted version. “FTX 2.0 is a terrible idea,” Scott Melker, otherwise known as the Wolf of All Streets, tweeted. “There is no possible combination of 3 letters in the English language that will instantly alienate and terrify the mainstream, no matter how it is presented. Everyone associates FTX with fraud, and that perception will not change. Kill the idea,” Melker added. Wayne Vaughan responded and said “Rebrand FTX to WTF,” while Bruce Fenton also replied to Melker and stated: “It’s not worth very much IMHO.”

The clamor for an FTX reboot continues unabated, with a multitude of individuals passionately advocating for its return. Some fervent supporters have even gone so far as to add the moniker “FTX 2.0” to their Twitter names, serving as a visible display of their unwavering support. In the realm of Twitter, an account named the “FTX 2.0 Coalition” has emerged, wholeheartedly championing the cause of reviving the defunct exchange.

Sharing screenshots of sentiment polls showcasing widespread approval, the account confidently affirmed on June 3, “The FTX brand has unexpected staying power.” Simultaneously, rumors of the impending fruition of FTX 2.0 have gained traction, with whispers suggesting that it will operate as an offshore exchange, situated beyond the borders of the United States.

Where do you stand on the FTX 2.0 debate? Share your thoughts and opinions about this subject in the comments section below.