FTX's FTT Token Skyrockets on SEC Chair Gensler's Revival Remarks

The FTT token, native to FTX cryptocurrency exchange, has surged by 90% after comments from SEC chairman Gary Gensler, who emphasized the importance of operating within the law and building investor trust in the crypto industry. Several groups are reportedly vying to take over FTX following the guilty verdict of its founder, Sam Bankman-Fried, on seven criminal charges. The rally indicates optimism for a potential relaunch of FTX 2.0, although it remains uncertain if a native token would be used. FTT is currently trading at a seven-month high of $2.30, with trading volume exceeding $300 million in the past 24 hours. Institutional traders previously expressed concerns about the platform's performance.