Would you invest in FTX 2.0?

[bbc.reporter]

@noorman0. Agreed that we should know the people behind the exchange and assess if they are qualified to run the exchange for a very long time. On the argument on Binance and their buyback and burn on BNB, I reckon the people behind the exchange has shown that they are quite competent.

Binance is still very much the biggest exchange despite legal problems and the fine on the exchange and CZ. However, CZ also has shown that he is influential when he convinced the people behind the president to pardon him. This very much shows that he is a person similar to Bill Gates or other great CEOs.

[Iranus]

Binance is still very much the biggest exchange despite legal problems and the fine on the exchange and CZ. However, CZ also has shown that he is influential when he convinced the people behind the president to pardon him. This very much shows that he is a person similar to Bill Gates or other great CEOs.

But CZ and Binance have to go through huge legal trouble. Binance was fined several billion dollar for violating US money laundering and compliance law. CZ himself pleaded guilty and is serving a few month in jail. yeah things have gone chilly now but that does not mean all legal risk or compliance hassle have been resolved. CZ will not be able to directly hold any responsibilitiy at Binance management yet

Comparing CZ to Bill Gates in term of influence is a bit of a stretch, in my opinion. Gates is making his impact through long term positive work, while CZs influence is intertwined with legal wrangling and regulatory drama. Binance is still leading but the place of absolute faith has not yet been created

[Z-tight]

CZ will not be able to directly hold any responsibilitiy at Binance management yet

I am not so sure about that. Maybe he can now that he has been pardoned by Mr President. There has been no news about that after his pardon, though a lot of people even believe that he was and still controls binance, just behind the scenes. So maybe there is no meed for him to take centre stage again.

However, CZ also has shown that he is influential when he convinced the people behind the president to pardon him. This very much shows that he is a person similar to Bill Gates or other great CEOs.

Maybe that is not so hard right now, especially if you have something to offer in return.

[bbc.reporter]

Binance is still very much the biggest exchange despite legal problems and the fine on the exchange and CZ. However, CZ also has shown that he is influential when he convinced the people behind the president to pardon him. This very much shows that he is a person similar to Bill Gates or other great CEOs.

But CZ and Binance have to go through huge legal trouble. Binance was fined several billion dollar for violating US money laundering and compliance law. CZ himself pleaded guilty and is serving a few month in jail. yeah things have gone chilly now but that does not mean all legal risk or compliance hassle have been resolved. CZ will not be able to directly hold any responsibilitiy at Binance management yet

Comparing CZ to Bill Gates in term of influence is a bit of a stretch, in my opinion. Gates is making his impact through long term positive work, while CZs influence is intertwined with legal wrangling and regulatory drama. Binance is still leading but the place of absolute faith has not yet been created

It might be a stretch to compare him to Bill Gates, however, the presidential pardon we have witnessed has clearly shown everyone his political influence in America.

In any case, it appears that FTX 2.0 might include tokenized stocks. The exchanges we presently are having today are still very much far from being the exchange for everyone.



New York Stock Exchange is building a platform to trade tokenised versions of US-listed equities and exchange-traded funds and settle those trades on the blockchain. The platform will allow instant settlement, 24/7 trading and stablecoin-based funding, according to a company statement on Monday.

If approved, the platform will “power a new NYSE venue that supports trading of tokenised shares fungible with traditionally issued securities as well as tokens natively issued as digital securities,” the company said.

Changpeng Zhao, former CEO of Binance, described the announcement as “bullish for crypto, and crypto exchanges.”

Read in full https://www.dlnews.com/articles/markets/nyse-to-launch-tokenised-securities-trading-platform/

[maydna]

If the price is still low, I will invest some money, less than $250 and leave the token like that. It is like BNB in the first time they launch their token. I was lucky to buy at very very low price and not using as the fee of trading. My BNB still on my wallet without I concerned because I don't trade in Binance at that time. But when Binance raise popularity, I remembered that I have BNB there so I am amazed with the amount of profits that I got. Learning from that experienced, if the price still cheap, why not?

[bbc.reporter]

I have read the news and I was curious on the mention of Hyperliquid. It also appears that they are buying back their tokens similar to FTX and they have a market making vault, also similar to FTX.

Does anyone reckon that this can be considered a FTX 2.0?



Oil futures surged on Hyperliquid after President Donald Trump ordered a naval blockade of the Strait of Hormuz, a major global supply chokepoint. The move came after Iran refused to give up its nuclear ambitions during peace talks in Islamabad earlier in the day.

Perpetual futures tied to WTI crude oil jumped to $96.40, up 7% on the day, extending early gains. Brent futures rose 6% to $96.

Source https://www.coindesk.com/markets/2026/04/12/oil-futures-up-7-on-hyperliquid-as-trump-orders-naval-blockade-of-hormuz

[bbc.reporter]

It appears that if Hyperliquid and other decentralized exchanges will become a good version of FTX 2.0, the government speculates that this will very much begin to become a risk and a danger not only for centralized exchanges in the cryptospace but also a risk and a danger to the traditional exchanges similar to the New York Stock Exchange and the Chicago Mercantile exchange heheheheh.

There was CZ who was attacking Hyperliquid before and presently it is these officials from the CME group and ICE heheheh. This very much is giving me the reminder on how the government officials from before were attacking bitcoin!



CME Group and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, are urging U.S. regulators to scrutinize decentralized derivatives exchange Hyperliquid over concerns tied to market manipulation and sanctions evasion, according to a Bloomberg report on Friday.

Executives from CME and ICE have raised alarms with officials at the Commodity Futures Trading Commission (CFTC) and lawmakers on Capitol Hill, arguing that Hyperliquid’s rapidly growing perpetual futures marketplace could create systemic risks for traditional commodities markets, particularly oil, Bloomberg reported, citing people familiar with the discussions.

The concerns come as Hyperliquid has emerged as one of the fastest-growing decentralized exchanges in crypto, driven largely by soaring volumes in perpetual futures, or “perps,” trading. The platform operates continuously, offering traders round-the-clock access to leveraged derivatives markets outside the constraints of traditional exchange hours.

Read in full https://www.coindesk.com/markets/2026/05/15/cme-ice-push-u-s-regulators-to-scrutinize-hyperliquid-over-manipulation-risks-bloomberg

[bbc.reporter]

News update.

It appears that it is not only Hyperliquid who is becoming something similar to an FTX 2.0. There are prediction markets that have begun offering their own perpetual futures products. It also appears that Kalshi and Polymarket are presently fighting for legalizing these products in America.

Also, there is a rumor that Coinbase will cancel their own centralized perpetual futures orderbooks and relaunch this on Hyperliquid if this becomes legal.



In a series of posts on X, Wilson argued that perpetual futures — or "perps" — are simply futures contracts without an expiration date. The features often associated with crypto perpetuals, such as high leverage, auto-deleveraging (ADL) and around-the-clock trading, are characteristics of how some crypto exchanges chose to implement the products, not the contracts themselves.

"Most of what people think they know about 'perps' ... has nothing to do with the contract itself," Wilson wrote.

His comments come as interest in bringing perpetual futures into regulated U.S. markets continues to grow. Several exchanges and market participants have explored launching perpetual futures beyond crypto, though questions remain over how the products should be regulated and whether they fit within existing futures or swaps frameworks. Kalshi, which saw perps trading explode shortly after launching, recently submitted a proposal with regulators to expand its offerings to precious metals.

Read in full https://www.coindesk.com/markets/2026/07/28/wall-street-veteran-don-wilson-says-regulators-are-getting-crypto-s-biggest-trading-innovation-all-wrong#

[bbc.reporter]

We are witnessing these types of articles being published more in cryptonews media where it mentions Polymarket, Hyperliquid, Robinhood and Kalshi. I reckon that this is making it very much appear that the competition on who will be the most successful FTX 2.0 exchange is beginning!

This is a very good article!



Talk about crypto trading with any savvy trader, and the first thing that comes up these days is perpetual futures, or “perps” — derivatives contracts that allow traders to control a much larger position than the money held in the account. Perps work like standard futures, but with one key advantage: there is no expiry.

While bitcoin and ether traders can dabble in spot, futures, options, perpetual futures and even structured products, for traders of other altcoins, perps are perhaps the only avenue for derivatives available to them. Dated futures (those with expiry) for altcoins are illiquid, and the spot market is an afterthought for anybody who doesn't plan to hold.

So, CoinDesk talked to traders who have thrived in the perpetual futures market to explain what makes perps different from other derivatives, how they help efficiently manage the needs of institutional traders and retail traders alike and what perps trading actually costs.

Read in full https://www.coindesk.com/business/2026/07/31/the-good-and-the-bad-of-perps-according-to-crypto-traders

[NotATether]

We are witnessing these types of articles being published more in cryptonews media where it mentions Polymarket, Hyperliquid, Robinhood and Kalshi. I reckon that this is making it very much appear that the competition on who will be the most successful FTX 2.0 exchange is beginning!

This is a very good article!

I don't think Polymarket would want to become an exchange. They have already struck gold by offering prediction markets and basically not enforcing their georestrictions. An exchange would change all that because they would have to be regulated.

Hyperliquid definitely looks like it could be another FTX story though

[ultrloa]

We are witnessing these types of articles being published more in cryptonews media where it mentions Polymarket, Hyperliquid, Robinhood and Kalshi. I reckon that this is making it very much appear that the competition on who will be the most successful FTX 2.0 exchange is beginning!

This is a very good article!

I don't think Polymarket would want to become an exchange. They have already struck gold by offering prediction markets and basically not enforcing their georestrictions. An exchange would change all that because they would have to be regulated.

Hyperliquid definitely looks like it could be another FTX story though

This is what also caught my attention the exchange thing, because they are actually known for being a prediction market.

But look at this, it seems they are heading on that way.

Polymarket Secures Full U.S. Regulatory Blessing: From Gray-Zone Outcast to CFTC-Licensed Futures Exchange

Polymarket Unveils Exchange Overhaul, Native Stablecoin as U.S. Expansion Looms

We don't know what's going to happen with them with those changes they made, but well hopefully they succeed and they will not became a FTX 2.0

[bbc.reporter]

We are witnessing these types of articles being published more in cryptonews media where it mentions Polymarket, Hyperliquid, Robinhood and Kalshi. I reckon that this is making it very much appear that the competition on who will be the most successful FTX 2.0 exchange is beginning!

This is a very good article!

I don't think Polymarket would want to become an exchange. They have already struck gold by offering prediction markets and basically not enforcing their georestrictions. An exchange would change all that because they would have to be regulated.

Hyperliquid definitely looks like it could be another FTX story though

They want also to be an exchange that will compete against everyone including Binance. Have you not read the news update on Polymarket? This news was announced on April 21, 2026. They also have their beta testing with acceptance only through invite codes hehehe.



Prediction markets platform Polymarket is expanding into trading of perpetual futures contacts, the company said Tuesday.

The announcement comes on the heels of a report from The Information that its main rival Kalshi has plans to offer crypto trading, including perpetuals. These are futures contracts that stay open indefinitely, allowing traders to hold leveraged exposure and exit anytime they want as long as they have enough funds to maintain it.

Polymarket has not specified whether its offering will include crypto perpetual futures, but the company is highly crypto friendly. It’s built on the Ethereum and Polygon blockchains and denominates trades primarily in the stablecoin USDC. Crypto traders were major drivers of Polymarket’s meteoric rise in 2024.

The move puts Kalshi — and perhaps Polymarket, if its offering includes crypto perpetuals — in more direct competition with Robinhood, Coinbase and Kraken, all of which have added prediction markets into their offerings in the past year, highlighting the value of young, speculative and risk-tolerant retail traders.

Read in full https://www.cnbc.com/2026/04/21/polymarket-launches-trading-of-heavily-leveraged-perps-contracts.html

@ultrloa. What I am implying about FTX 2.0 is the success of the exchange without the scam occurrence heheheeh. If we remember what has occurred before Sam used customer deposits to fund Alameda's margins on their trades, FTX was the Binance killer and it might certainly have happened in a few years if Sam did not scam his own customers.

[bbc.reporter]

This is included in the news update that I have shared on the thread about the Trump pump heheheheh. It appears that he also mentioned what we have speculated on this thread on what FTX 2.0 might appear to be. This certainly is becoming clear that it might be Hyperliquid.

This will certainly be a problem if an anticrypto Democrat will win the next presidential election in America, however.



Hyperliquid’s token, HYPE, jumped 11% after U.S. President Donald Trump said Wednesday that Commodity Futures Trading Commission (CFTC) Chair Mike Selig is working on a way to bring Hyperliquid (HYPE) into the U.S.

"I understand that [CFTC Chairman] Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion, working very hard on that," Trump said.

Read in full https://www.coindesk.com/markets/2026/08/19/hype-jumps-11-as-trump-says-cftc-is-working-to-bring-hyperliquid-to-u-s

[bbc.reporter]

Does everyone think that Coinbase can become FTX 2.0 where it becomes the most successful exchange speculated to be the Binance killer? This tactic of theres on offering real world assets through tokenized stocks might bring institutional investors' cash inflows to their exchange!

Also, we have witnessed before the unsuccessful attempts on bringing real world assets in the cryptospace. I predict that on 2027 or 2028, we will witness the success of real world assets in the cryptospace which will also cause the success of the art market in the cryptospace through NFTs!



Coinbase debuted tokenized U.S. stocks on its Base blockchain on Monday, joining rival crypto exchanges, including Kraken and Binance, in the race to bring stock trading onchain.

The rollout starts with some of the biggest names in the U.S. market: Apple (AAPL), Nvidia (NVDA), Meta (META) and Alphabet (GOOGL). The tokens are available to eligible investors outside the U.S. and represent shares held 1:1 with Alpaca, a regulated broker and custodian, according to a Base blog post.

The stock tokens are issued under Abu Dhabi Global Market (ADGM) regulation, where Coinbase recently established its international tokenization hub.

Coinbase said more stocks will follow the initial batch.

Read in full https://www.coindesk.com/business/2026/08/24/coinbase-debuts-tokenized-stocks-on-base-network-joining-race-to-bring-equities-on-blockchain

[bbc.reporter]

If the Clarity act gets passage and this is signed by the Donald, I reckon that this will be a very positive occurrence for America to bring decentralized exchanges that offer perpetual futures contracts. Kalshi and Polymarket are presently having their beta tests. Also, Coinbase will have a new perpetual futures offering according to rumors and Robinhood is also going to offer their perpetual futures contracts market.

It appears the winner for the competition on who will be FTX 2.0 will be very difficult to predict.



The U.S. Commodity Futures Trading Commission (CFTC) has asked a federal judge to dismiss CME’s challenge to its approval of cryptocurrency perpetual futures, arguing the derivatives exchange cannot show that it has been harmed.

The regulator called the dispute “much ado about nothing” and said CME lacks constitutional standing because it has not alleged a concrete financial loss, in a motion filed Wednesday.

The CFTC said the order CME is challenging allows any registered designated contract market, including CME, to list similarly structured products.

CME has also publicly said its customers have not asked for perpetual futures. Any harm caused by its decision not to offer the contracts is therefore self-inflicted, the CFTC argued.

A ruling in CME’s favor would not remove the competing products from the market, according to the agency. Kalshi and other designated contract markets could continue offering them as swaps, meaning reclassifying the contracts would not remedy CME’s alleged competitive injury.

The CFTC also said CME’s effort to protect itself from competition falls outside the interests the Commodity Exchange Act was designed to protect.

Read in full https://www.coindesk.com/policy/2026/09/03/cftc-asks-judge-to-dismiss-cme-lawsuit-over-crypto-perpetual-futures

[bbc.reporter]

It appears that we are witnessing the beginning of FTX 2.0. This might be Kraken where the parent company of this has received a $100 million private investment from Nasdaq! Kraken has also created their own blockchain Ink network and it appears this is where the tokenized stocks will be issued.

This also strengthens the argument that real world assets will be the next big storyline.



Nasdaq invests $100 million in Kraken parent company Payward at $21 billion valuation

Nasdaq's (NDAQ) Ventures invested $100 million in Payward, the parent company of crypto exchange Kraken, the major U.S. global electronic stock exchange said Thursday. The investment brings Payward’s valuation to $21 billion, people familiar with the matter previously told Bloomberg.

Payward’s plans to raise funds were first reported by CoinDesk in May, when two people with knowledge of the matter revealed that Payward was seeking new capital at a $20 billion valuation.

Nasdaq views Kraken as an investment to support its development of tokenized market infrastructure, the exchange said.

Kraken will distribute Nasdaq’s tokenized stocks on its own platform as part of the funding agreement. The aim is to allow users to buy and own Nasdaq-listed stocks in a tokenized form, although with the same voting rights as regular equities that trade on Nasdaq’s exchange.

Read in full https://www.coindesk.com/business/2026/09/10/nasdaq-invests-usd100-million-in-kraken-parent-company-payward-at-usd21-billion-valuation

[sunsilk]

It appears that we are witnessing the beginning of FTX 2.0. This might be Kraken where the parent company of this has received a $100 million private investment from Nasdaq! Kraken has also created their own blockchain Ink network and it appears this is where the tokenized stocks will be issued.

This also strengthens the argument that real world assets will be the next big storyline.

I guess that Nasdaq is wise on this one. There's approximately 1M+ users actively trading in kraken and with this investment that Nasdaq did to them wants this condition;

As part of the funding agreement, Kraken will distribute Nasdaq's tokenized stocks on its own platform.

The goal is to allow investors to buy and own Nasdaq-listed stocks in a tokenized or digital format but with the same voting rights as traditional stocks that trade on the Nasdaq exchange.

This is a win-win for both but I think that Nasdaq did better on this one.

That $100M means expansion for them on an established crypto exchange but, hopefully they won't be ending the same as ftx if Nasdaq is behind them.

[bbc.reporter]

@sunsilk. When I say becoming FTX 2.0 in this thread, I am implying becoming an exchange that will become a competitor as a Binance killer heheheh. I am not implying that the exchange will scam their customers.

There were years before 2022 when FTX was growing very quick to become the biggest. However, Alameda Research's high leverage trading caused them to become a failure.