If FTX Is Up For Sale, New Owners Must Adhere To Law, FTX Chair Gary Gensler Says
Portfolio Pulse from Murtuza Merchant
SEC Chair Gary Gensler has stated that FTX (CRYPTO: FTT) could operate successfully under new leadership if it adheres to the law. This comes amid reports that Tom Farley, former president of the New York Stock Exchange, is among the top contenders to acquire the bankrupt crypto exchange. Gensler emphasized the importance of building investor trust and ensuring proper disclosures. FTX’s founder, Sam Bankman-Fried, was recently found guilty on all seven criminal counts against him, including fraud and money laundering charges.
November 09, 2023 | 3:49 pm
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FTX (CRYPTO: FTT) could operate successfully under new leadership if it adheres to the law, according to SEC Chair Gary Gensler. This comes amid reports that Tom Farley, former president of the New York Stock Exchange, is among the top contenders to acquire the bankrupt crypto exchange.
The potential acquisition of FTX by a respected figure like Tom Farley could boost investor confidence in the exchange, potentially leading to a positive impact on the price of FTT.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Coinbase Inc. (NASDAQ:COIN) was mentioned in the context of companies operating in the U.S. that must obey the law. The SEC has either brought or settled 150 cases in crypto, including a legal spat with Coinbase.
The mention of Coinbase in the context of legal compliance could potentially impact investor sentiment, but it's not clear whether this will have a positive or negative effect.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50