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Fox Business: IEX possibly buys FTX's technology as a bankruptcy custodian

2022/11/15 05:13

According to Fox Business, US stock exchange IEX possibly buys FTX's technology as a custodian in bankruptcy, a person with knowledge of the matter says. FTX is also a minority investor in IEX, and IEX officials are trying to buy back shares held by the company. Previously, IEX had considered partnering with SBF’s FTX to build a new crypto trading platform that clearly complies with the standards of the U.S. Securities and Exchange Commission (SEC). IEX team, along with FTX, provided Gensler and senior SEC officials with the broad outlines of their idea and questioned whether existing SEC rules would apply to their new venture, according to people with direct knowledge of the matter. Gensler was said to be lukewarm to their pitch, these people add, not explicitly ruling it out but also not indicating he would give it his green-light. Executives from IEX met with SEC officials separately nearly up until the time of the FTX bankruptcy last week.
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