FTT, the token of defunct crypto exchange FTX, surged over 84% overnight following SEC chair Gary Gensler’s comments signaling his openness to a revival of the exchange “within the law.” Gensler’s comments came following reports that three bidders are circling FTX, including former NYSE president Tom Farley’s crypto exchange Bullish. He said that prospective owners of FTX should “Build the trust of investors in what you’re doing and ensure that you’re not commingling all these functions, trading against your customers, or using their crypto assets for your own purposes.” Although FTT has seen a bounce on the prospect of the exchange’s revival, its price has to be seen in context; it’s down over 97% from its all-time high of $84.18 seen in September 2021. FTX founder Sam Bankman-Fried was last week found guilty on seven counts of fraud and conspiracy relating to the collapse of the exchange and faces a maximum sentence of 115 years in jail. He will be sentenced in March 2024. This news is potentially good news for crypto investors as the revival of FTX could have a positive impact on the crypto market. #FTT #FTX #CRYPTOMARKET #GARYGENSLER
You can read more about this topic here: Decrypt: FTT Token Jumps 84% Following Gensler’s FTX Revival Comments
