• A group of former FTX executives, including one who served as a key witness against Sam Bankman-Fried, are teaming up to build a new cryptocurrency exchange that aims to solve the problems that doomed their previous employer.
• Trek Labs, a Dubai-based startup led by the former FTX general counsel Can Sun, received a license from the emirate’s crypto regulator last month.
• Another ex-FTX employee, Armani Ferrante, is chief executive of Trek’s holding company in the British Virgin Islands and also runs a partner firm, called Backpack, that designs and operates digital currency wallets. Sun’s former legal deputy, who is also Ferrante’s wife, sits on Trek’s executive team, too. The venture is looking to sell a 10% stake to investors at a valuation of over $100 million.

Tagged: CryptoCurrency