FTX Restart Efforts; Kraken Mulls Partner to Help Launch Its Own Layer 2 Network

Cracking preps for a layer two and Coinbase beefs up on national security experts. You're watching coin desk daily. I'm your host, Jen Sani. All right, let's take a look at the markets. The coin desk, Bitcoin price XBX index is currently hovering just below $35,000. The world's largest Cryptocurrency by market cap has gained roughly 25% in the last four weeks. Meanwhile, prices of the or token surged 50% in 24 hours. The token is tied to the Bitcoin ordinals protocol. The spike comes after it was listed on the crypto exchange Binance as an emerging project under the seed tag. In the announcement, Tuesday, Binance warned or poses a higher than normal risk and will likely be subject to high price volatility, crypto exchange. Kracken is considering several of the leading Blockchain technology firms to help launch its own layer two network. Kraken is considering polygon Matter labs and NIL Foundation among others. That's according to sources. The move would bring Kraken in line with rival Coinbase which launched its own layer two network base. Earlier this year, a Kraken spokesperson told Coindesk quote, we're always looking to identify and solve for new industry challenges and opportunities and quote and new moves for another exchange. Coinbase has added four national security experts to its global Advisory council. They are former US Secretary of Defense Mark Esper, former Florida congresswoman Stephanie Murphy, former national security specialist Frances Townsend and lobbyist David Urban. It comes as Coinbase is fighting the SEC in an unregistered securities dispute but quietly acquired approval to handle customers buying and selling of crypto futures from the CFTC Silicon Valley Investment Firm Proof Group is in the running to relaunch FTX. According to two people familiar with plans, Proof is a VC. That's part of the Fahrenheit consortium that successfully bid for bankrupt Cryptocurrency lender Celsius. The bankrupt exchange has received multiple bids for potential restart which has now been narrowed down to a shortlist of three after collapsing nearly a year ago. According to Perella Weinberg partners, a decision should be made by Mid December. That's a wrap for Coindesk daily. Get more updates on coindesk dot com and we'll see you next time.