Stock exchange IEX is reportedly in talks with crypto company Coinbase to create a federally approved crypto marketplace.
Chairman of IEX Brad Katsuyama is planning to take a second run at launching the exchange, after he initially worked towards getting government approval with disgraced FTX boss Sam Bankman-Fried.
SBF has since been arrested and charged with a huge fraud following the collapse of FTX.
Katsuyama is now reportedly in talks with FTX's old rival Coinbase to team up in order to get approval from the Securities and Exchange Commission (SEC).
Katsuyama previously met with Gary Gensler, the chair of the SEC, alongside SBF for proposal meetings which also included commission officials.
An IEX spokesperson confirmed to DailyMail.com that 'conversations' were taking place, but would not confirm who they were with.
Chairman of IEX Brad Katsuyama is planning to take a second run at launching the exchange after he initially worked towards getting government approval with disgraced FTX boss Sam Bankman-Fried
They said: 'We continue to consider ways that we can help provide a regulatory path for digital asset securities, including conversations with regulators and other market participants, but have not finalized any specific proposal that includes any third parties.'
Coinbase claimed an earlier report about the plans was 'inaccurate,' but did not deny it outright - and did not elaborate on what the 'inaccuracy' was.
After close of trading on Tuesday, Coinbase reported higher-than-expected fourth-quarter revenues of $605 million.
However the company lost $557 million for the fourth quarter ending December 31, compared to earnings of $840 million in the same quarter in 2021.
Coinbase also lost $2.625 billion in 2022, with higher interest rates and increased regulatory pressure causing significant declines in digital assets.
It also reduced the value of the global crypto industry by nearly $2 trillion, with FTX's bankruptcy adding to the woes of the now $1 trillion crypto market.
The Securities and Exchange Commission declined to comment when approached by DailyMail.com.
Gensler, an MIT professor who previously worked as a banker for Goldman Sachs, previously said that he believes only Bitcoin could possibly be the only digital asset that is being traded as a commodity.
Katsuyama, a veteran trader who was the protagonist in Wall Street book 'Flash Boys', met with the SEC and SBF just before FTX filed for bankruptcy in November
Gensler, an MIT professor who previously worked as a banker for Goldman Sachs, previously said that he believes only Bitcoin could possibly be the only digital asset that is being traded as a commodity
He said the vast majority of crypto tokens are being traded illegally as unregistered securities.
The SEC Chair has brought enforcement actions against various crypto businesses in the past few weeks.
They include exchanges kraken вход and Gemini for alleged SEC rule violations, as well as entities allegedly selling unregistered coins.
Katsuyama, a veteran trader who was the protagonist in Wall Street book 'Flash Boys', met with the SEC and SBF just before FTX filed for bankruptcy in November.
Regulators are calling the fraud one of the biggest in crypto history and accusing SBF and his associates with stealing customer assets to finance their lavish lifestyle.
They are also accused of trading losses from their sister hedge company, run by SBF's on-and-off girlfriend, Alameda Research.
SBF has denied the charges against him and remains under house arrest at his parents' property until his trial in October.
He could face up to 115 years in jail, with other FTX executives reaching plea deals with prosecutors and are expected to testify in court as government witnesses against the former CEO.
Before its collapse, FTX was the world's second-largest crypto exchange
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IEX and Coinbase 'in talks to create federally approved crypto market'
por Una Dartnell (2023-10-14)
Stock exchange IEX is reportedly in talks with crypto company Coinbase to create a federally approved crypto marketplace.Chairman of IEX Brad Katsuyama is planning to take a second run at launching the exchange, after he initially worked towards getting government approval with disgraced FTX boss Sam Bankman-Fried.
SBF has since been arrested and charged with a huge fraud following the collapse of FTX.
Katsuyama is now reportedly in talks with FTX's old rival Coinbase to team up in order to get approval from the Securities and Exchange Commission (SEC).
Katsuyama previously met with Gary Gensler, the chair of the SEC, alongside SBF for proposal meetings which also included commission officials.
An IEX spokesperson confirmed to DailyMail.com that 'conversations' were taking place, but would not confirm who they were with.
Chairman of IEX Brad Katsuyama is planning to take a second run at launching the exchange after he initially worked towards getting government approval with disgraced FTX boss Sam Bankman-Fried
They said: 'We continue to consider ways that we can help provide a regulatory path for digital asset securities, including conversations with regulators and other market participants, but have not finalized any specific proposal that includes any third parties.'
Coinbase claimed an earlier report about the plans was 'inaccurate,' but did not deny it outright - and did not elaborate on what the 'inaccuracy' was.
After close of trading on Tuesday, Coinbase reported higher-than-expected fourth-quarter revenues of $605 million.
However the company lost $557 million for the fourth quarter ending December 31, compared to earnings of $840 million in the same quarter in 2021.
Coinbase also lost $2.625 billion in 2022, with higher interest rates and increased regulatory pressure causing significant declines in digital assets.
It also reduced the value of the global crypto industry by nearly $2 trillion, with FTX's bankruptcy adding to the woes of the now $1 trillion crypto market.
The Securities and Exchange Commission declined to comment when approached by DailyMail.com.
Gensler, an MIT professor who previously worked as a banker for Goldman Sachs, previously said that he believes only Bitcoin could possibly be the only digital asset that is being traded as a commodity.
Katsuyama, a veteran trader who was the protagonist in Wall Street book 'Flash Boys', met with the SEC and SBF just before FTX filed for bankruptcy in November
Gensler, an MIT professor who previously worked as a banker for Goldman Sachs, previously said that he believes only Bitcoin could possibly be the only digital asset that is being traded as a commodity
He said the vast majority of crypto tokens are being traded illegally as unregistered securities.
The SEC Chair has brought enforcement actions against various crypto businesses in the past few weeks.
They include exchanges kraken вход and Gemini for alleged SEC rule violations, as well as entities allegedly selling unregistered coins.
Katsuyama, a veteran trader who was the protagonist in Wall Street book 'Flash Boys', met with the SEC and SBF just before FTX filed for bankruptcy in November.
Regulators are calling the fraud one of the biggest in crypto history and accusing SBF and his associates with stealing customer assets to finance their lavish lifestyle.
They are also accused of trading losses from their sister hedge company, run by SBF's on-and-off girlfriend, Alameda Research.
SBF has denied the charges against him and remains under house arrest at his parents' property until his trial in October.
He could face up to 115 years in jail, with other FTX executives reaching plea deals with prosecutors and are expected to testify in court as government witnesses against the former CEO.
Before its collapse, FTX was the world's second-largest crypto exchange