SEC’s Gensler hints he’s open to a FTX reboot under proper leadership: Report
The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law.
SEC Chair Gary Gensler’s comments were made in response to reports that Tom Farley, a former president of the New York Stock Exchange, is now in the running to buy the bankrupt cryptocurrency exchange founded by now-convicted fraudster Sam Bankman-Fried.
“If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’” Gensler said in an interview at DC Fintech Week on Nov. 8, according to CNBC. He added:
Farley is the CEO of cryptocurrency exchange Bullish, which was founded in 2021.
Fintech startup Figure Technologies and cryptocurrency venture capital firm Proof Group are the other two bidders in the mix to buy FTX, according to a Nov. 8 report by the Wall Street Journal, who cited people familiar with the matter.
3 FTX bidders in the Auction are:
Bullish - Crypto exchange run by Tom Farley
Figure Technologies - fintech start up and
Proof Group - crypto venture-capital firm
Three bidders will be leading a consortium
The winner could restart the exchange after its planned exit from bankruptcy next year, according to the WSJ report.
Meanwhile, in light of Bankman-Fried’s conviction, Gensler said the cryptocurrency industry is still rife with fraudsters and suggested more work needs to be done to keep them away from investors.
“Think about how many actors in this space are not complying right now with international sanctions and money laundering laws and are using crypto for nefarious or bad actions. He said, without naming individuals or companies. Gensler added:
Related: Could regulation have prevented Sam Bankman-Fried’s
Read more on cointelegraph.com
