Securities and Exchange Commission (SEC) Chair Gary Gensler has indicated that the agency is open to the possibility of the exchange resuming operations. Following Gensler’s comments at the DC Fintech Week conference, the native token of FTX, FTT, has experienced a significant price surge of 90%. Gensler responded to a question about former New York Stock Exchange president Tom Farley’s potential bid for FTX by emphasizing the importance of operating within the bounds of the law. Currently, there are reportedly three interested bidders looking to acquire FTX’s remaining assets, and a decision may be reached by mid-December as part of the company’s restructuring plans. Gensler stressed that any revival of the exchange would need to comply with securities laws and rebuild trust through transparent disclosures. He criticized FTX’s previous operations, which involved the improper allocation of customer funds to affiliated hedge fund Alameda Research. Gensler highlighted the importance of separating the operations of an exchange and a hedge fund, citing the New York Stock Exchange as an example. While the surge in FTT’s price suggests optimism about FTX’s potential return, it remains uncertain whether a relaunched FTX would incorporate a native token or a similar model.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Tom Farley, Gary Gensler
Companies	FTX, Alameda Research, Securities and Exchange Commission, New York Stock Exchange
Currencies	FTX
Securities	None