Part 3/16:
Bankman-Fried's team is reportedly conducting rigorous legal analyses—including applying the Howey test—to determine which assets qualify as securities. If deemed such, these assets could be delisted, possibly as a move towards stricter regulatory compliance or to reshape the exchange's offerings. It raises questions: is FTX attempting to clean its books, appease regulators, or execute a staged exit? These behind-the-scenes maneuvers seem deliberate and calculated, hinting that FTX might be positioning itself for a strategic pivot amid the ongoing chaos.