Former NYSE President Aims to Acquire FTX: Traditional Finance Eyes Crypto's "New" Frontier

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Tom Farley, the former president of the New York Stock Exchange (NYSE), is making bold moves in the cryptocurrency space. His latest venture? Potentially acquiring the bankrupt FTX exchange—a move that signals traditional finance's growing interest in digital assets.

Tom Farley's Crypto Ambitions

"Tom Farley led the NYSE for five years, then pivoted to SPACs before diving headfirst into crypto. Now, he’s eyeing FTX’s remains—a gambit that could reshape the industry."

Farley’s journey reflects the evolving relationship between legacy finance and decentralized technologies. After his tenure at NYSE, he ventured into SPACs (Special Purpose Acquisition Companies) and later took the helm at Bullish, a crypto exchange backed by blockchain giant Block.one.

Last month, Bullish acquired CoinDesk, a leading crypto news platform, further solidifying Farley’s foothold in the sector. Days later, he confirmed on CNBC that Bullish is considering a bid for FTX’s assets.

Why FTX?

Despite its collapse, FTX retains valuable assets:

Bullish Exchange: A Regulatory-Compliant Contender

Bullish distinguishes itself with:

However, skepticism persists. CoinGecko data shows Bullish’s actual 24-hour trading volume at $40 million**—far below its reported **$12 billion.

Farley’s Track Record

SEC Chairman’s Endorsement

Gary Gensler, SEC Chair, cautiously supports Farley’s FTX bid:

"Operate within the law. Build trust through transparency—no commingling funds or trading against customers."

FAQ Section

Q: Why would Tom Farley want FTX?
A: FTX’s user base and crypto holdings offer a shortcut to market dominance.

Q: Is Bullish truly compliant?
A: It claims to be, but independent audits are pending.

Q: Could this revive FTT’s value?
A: Speculation has already boosted FTT by 500%, but long-term viability depends on execution.

👉 Discover how institutional crypto trading is evolving


This article adapts original reporting from Forbes. Opinions expressed are the author’s alone.


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