One year after the fall of FTX, the question of restarting the fallen crypto exchange is put back on the table again. For SEC Chairman Gary Gensler, its revival is possible, but…there are conditions. Details !
Relaunch of FTX, Gary Gensler is not against it!
The FTX affair, which cost more than 10 billion dollars in losses to investors, may have had a twist with a possible sentencing of Sam Bankman-Fried to a 110-year prison sentence. But many are still waiting for reimbursement, and why not the reopening of the American crypto exchange.
THE restructuring plan from FTX 2.0 has already been the subject of a proposal. There is a good chance that the team of John Ray III, current CEO of the bankrupt crypto company, will be able to reopen the company.
“ According to CNBC, Gary Gensler, chairman of the SEC, said that restarting FTX within the framework of the law was possible if FTX’s new management understood the law correctly. Bullish, the cryptocurrency exchange owned by Tom Farley, former head of the New York Stock Exchange, is one of three companies bidding to acquire FTX’s remaining assets. »
The current chairman of the SEC is not opposed to a possible revival of FTX. Interviewed by CNBC, on the sidelines of DC Fintech Week, Gary Gensler set some conditions for this eventuality.
First, he mentioned the need for new leadership. Wouldn’t he be in agreement with the John Ray administration? Or is he thinking of forever excluding SBF and his entire clique from the FTX ecosystem. There latest release from CNBC revealed to us ample details on this subject.
Its second condition comes down to a good understanding of the law.
“ If Tom [Farley] or anyone else wanted to work in this field, I would tell them to do it within the law. Build investor confidence in what you do and make sure you are making appropriate disclosures – and also that you are not mixing up all functions, trading against your clients. Or that you do not use cryptoassets for your own purposes “, he clarified.
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