I don't know if I trust this Gensler character. That is not an honest statement. I don't.
Here is an article outlining the possibility of the FTX reboot: https://www.cnbc.com/2023/11/08/secs-gensler-says-rebooted-ftx-is-possible-if-done-within-the-law.html
You can read about the particulars. The article talks about an ex-NYSE chief can run it if the rebooted FTX runs within the law.
Well, I have to admit I am not a legal expert. However, there are no real laws regarding cryptocurrency. I mean the SEC is doing a poor job of making it up as they go. The rebooted FTX can't list any of the coins or tokens identified by the SEC as securities, what is left then. FTX hawking Bitcoin and Ethereum? I am being a bit facetious, but seriously, how can Gensler be serious about this, while undermining many cryptocurrencies in his role at the SEC?
I have written about many of the issues with the SEC's case against cryptocurrency. Even last , week, there was speculation about how the SEC may have acted illegally in regard to cryptocurrency, Here is that article: https://www.publish0x.com/twodogscaged/did-the-sec-break-the-law-regarding-cryptocurrency-xoqogre
Another thought would be, even if you could reboot FTX, wouldn't the brand be damaged beyond repair? Maybe or maybe not. I would not invest in a rebooted FTX. I think it would be more appropriate for new investors to start a new company if need be, or join with Coinbase, as it clearly operates "within the law."
In the long run it does not matter. Even though the fall of FTX was a black mark on cryptocurrency, the legal charges and conviction, and eventual sentencing of SBF will be looked at as a turning point for cryptocurrency in the general public. It will mark the beginning of a more healthy crypt era that begins to build trust in the general public.
