Gensler’s nod to FTX revival sparks market frenzy
SEC chair Gary Gensler is open to the idea of FTX’s revival , provided its new management operates within legal parameters. This openness from Gensler came to light following revelations that Tom Farley, ex-president of the New York Stock Exchange, might be looking to acquire the now-bankrupt exchange previously led by Sam Bankman-Fried, who has been convicted of fraud. Gensler open to FTX revival under legal compliance Speaking at DC Fintech Week on Nov. 8, Gensler advised potential market entrants to gain investor trust through transparency and compliance with the law, emphasizing the importance of proper disclosures and avoiding conflicts of interest, such as trading against customers or misusing their assets. Farley, currently at the helm of Bullish, a cryptocurrency exchange launched in 2021, is among the contenders for FTX, alongside Figure Technologies and Proof Group, as reported by crypto.news earlier. The successful bidder could relaunch FTX post-bankruptcy, with ...