Gary Gensler: Restarting FTX is possible “within the law”

U.S. SEC Chairman Gary Gensler said during FinTech Week in Washington, D.C., that restarting FTX would be possible “within the law” if FTX’s new leadership has a clear understanding of the law. "If Tom (former New York Stock Exchange president) or anyone else wanted to get into this space, I would say, 'Act within the law,'" Gensler said. "Build investor trust in what you're doing and make sure You made appropriate disclosures — and you didn’t mix all those functions together to transact with your clients or use their crypto assets for your own purposes.” (CNBC) Yesterday’s news revealed that a company run by former New York Stock Exchange President Tom Farley was one of three companies bidding for FTX’s remaining assets, and that FTX’s auction has entered the final stage. Bullish, a cryptocurrency trading platform run by Farley, fintech startup Figure Technologies and crypto venture capital firm Proof Group are vying to acquire FTX, according to people familiar with the matter. The winning bidder can restart the trading platform after it exits bankruptcy proceedings next year.