FTX’s European Comeback: CySEC Reinstates License for Rebranded Trek Labs

In a significant regulatory development, the Cyprus Securities and Exchange Commission (CySEC) has officially reinstated the authorization of Trek Labs Europe Ltd (formerly FTX EU Ltd) as of July 4, 2025. This decision marks a pivotal moment for the digital asset sector, demonstrating how compliant restructuring can pave the way for second chances in crypto markets. The approval follows a June 23 board meeting where regulators confirmed the resolution of legacy compliance issues through a €200,000 settlement and comprehensive organizational reforms under new ownership. While operational deficiencies from its FTX-era operations drew regulatory scrutiny, the firm's successful rebranding and compliance overhaul sets an important precedent for exchange rehabilitation in post-FTX crypto markets.

CySEC Lifts Suspension on Former FTX EU Unit Now Operating as Trek Labs

The Cyprus Securities and Exchange Commission (CySEC) reinstated the authorization of Trek Labs Europe Ltd on July 4, 2025, following a June 23 board meeting. The firm—previously licensed as FTX (EU) Ltd before its 2022 suspension—resolved legacy compliance issues through a €200,000 settlement and organizational restructuring under new ownership.

Regulatory scrutiny focused on pre-rebranding operational deficiencies from March-November 2022. CySEC's decision signals restored confidence in the entity's adherence to Investment Services and Activities regulations, marking a pivotal recovery milestone for the rebranded operation.

Satoshi-era Bitcoin Wallets Awaken Amid FTX Restructuring and Brazilian Bank Hack

Dormant Bitcoin wallets from the Satoshi era abruptly reactivated this week, transferring 80,000 BTC ($8.5 billion) to new SegWit addresses—the first major movement since 2011. The transactions coincided with suspicious activity involving 10,000 Bitcoin Cash (BCH), sparking speculation about potential market implications.

Meanwhile, FTX seeks court approval to distribute assets in restricted jurisdictions as part of its bankruptcy proceedings. The defunct exchange's restructuring efforts contrast with growing institutional adoption, as Robinhood and Deutsche Bank accelerate blockchain initiatives while Ripple secures a key payments partnership.

Brazil faces a crypto-enabled financial scandal after hackers infiltrated the central bank's service provider, laundering $140 million through digital assets according to on-chain investigator ZachXBT. The incident underscores cryptocurrency's dual role in both financial innovation and illicit activity.

FTX Seeks Court Approval to Exclude Creditors from 49 Restricted Jurisdictions

FTX has filed for court approval to implement a new claims process that could exclude creditors from 49 jurisdictions where cryptocurrency is banned or heavily regulated. The move, disclosed in a recent court filing shared by creditor advocate Sunil, targets billions in disputed claims—82% of which originate from users in China.

The proposed framework WOULD automatically dispute claims from restricted regions unless FTX receives legal confirmation that payouts are permissible. Negative determinations could result in permanent denial of claims and forfeiture of associated funds. Affected jurisdictions include Russia, Egypt, Morocco, and North Korea.

This development complicates the ongoing restitution process for customers impacted by FTX's November 2022 collapse. The exchange plans to notify affected users via email, though the legal viability of cross-border crypto distributions remains uncertain in many markets.