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FTX filings hint at reboot, OKX exchange picks Paris as hub

FTX filings hint at reboot, OKX exchange picks Paris as hub

FTX's former chief Sam Bankman-Fried. FTX's new chief is hinting at FTX 2.0. Credit: Lev Radin/Shutterstock

FTX filings hint at reboot

Filings hint that the new boss of collapsed exchange FTX is working on FTX “2.0,” CoinDesk reported, showing an image of the documents.

John Ray III spent almost seven hours toiling on tasks related to the topic, which some have guessed means FTX 2.0, a reboot of the exchange, CoinDesk says.

Ray has hinted that he may restart the company, according to an interview with the former Enron lawyer in the Wall Street Journal in January.

Venture capital firm Tribe Capital has signalled interest in leading a funding round in the event of a reboot.

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“Everything is on the table,” Ray told the WSJ at the time. “If there is a path forward on that, then we will not only explore that, we’ll do it.”

OKX picks France as regional hub

OKX, the Seychelles-based crypto exchange, picked France as its hub in Europe and wants to hire about 100 staff in the next three years, CoinDesk reported.

Almost 75 firms have won a regulatory nod from the country’s Financial Markets Authority.

The exchange plans a “substantial” physical presence there, Tim Byun, its head of global government relations, told CoinDesk. It applied to become a digital asset service provider.

International watchdog launches plan to rein in crypto

IOSCO, the international securities watchdog, called on regulators to better rein in crypto in its launch of the first global attempt to regulate the sector, Reuters reported.

The 18-point plan covers areas including conflicts of interest, disclosure rules, and governance, the Financial Times reported.

IOSCO said in the document that it welcomes input from all stakeholders as part of the consultation process, that closes on July 31.

Read the whole IOSCO document here.

Ethereum dominates as tokenisation reaches $220m

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The tokenisation trend has reached a market cap of over $220 million, with Ethereum projects dominating the market.

New data from Dune reveals that the six projects measured have reached new levels, Decrypt reported.

Tracked projects were spread out across the Polygon and Gnosis Chain, with the majority of activity occurring on Ethereum.

The news highlight the growing trend among firms like Matrixport, Backed Finance, Ondo, and Franklin Templeton to issue financial securities like stocks and bonds on the blockchain.

Cosmos’ legal fight poised to turn nastier

In March, All in Bits, the company that built Cosmos and goes by the trade name Tendermint, sued Grace Yu.

Yu, whose three-month stint as head of growth and strategy at the firm that built Cosmos ended in January, allegedly disparaged the blockchain network in violation of the terms of her contract.

While such litigation is routine in TradFi, it’s a novel development in crypto.

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The case is stirring up controversy for Cosmos, DL News reported. It’s a technology designed to launch interconnected blockchains, as well as for co-founder Jae Kwon, the CEO of All in Bits.

More than $1.5 billion worth of crypto is locked in Cosmos-based blockchains such as Kava, Osmosis and Canto.

More news from around the web...

China’s BSN builds blockchain systems on its own terms — with no crypto and Xi’s guiding handDL News

Hong Kong lets retail investors trade crypto in new rules that contrast with clampdowns in AsiaBloomberg

Interview with a crypto scam investment spammerKrebs on Security

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