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Kraken co-founder questions viability of FTX 2.0's revival plans

Jesse Powell, co-founder of Kraken, has expressed doubts about the viability of FTX 2.0's plans to revive the now-bankrupt crypto exchange. Powell believes that FTX 2.0 would be worse than starting from scratch due to the lack of team, technology, licenses, and banking, as well as a tarnished brand. He suggests that the trustee should auction off the domain and trademark to the highest bidder, as anything beyond that would be a fee extraction attack on delusional creditors. FTX 2.0 Coalition, an alliance of FTX users hoping for a reboot, criticized Powell's comments, stating that the exchange's 1.8 million creditor-customers turned owners are hugely valuable for bootstrapping.

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