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FTX's FTT Token Jumps 90% on Gensler Comments

FTT, the native token of defunct cryptocurrency exchange FTX, has surged by 90% following comments from U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler, who warned that if anybody wants to get involved in crypto, they must "do it within the law" following a series of bids to reboot FTX. There are reportedly several groups in the running to take over FTX following last week's trial that saw the company's founder, Sam Bankman-Fried, receive a guilty verdict on seven criminal charges. The speculative rally indicates hope for further upside if FTX 2.0 gets the green light. FTT is currently trading at a seven-month high of $2.30 with trading volume over the past 24 hours exceeding $300 million.

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