Bankless Founder: Lighter (LIT) Market Rally Is Back

Odaily reports: Bankless founder David Hoffman reposted Lighter's regulatory update on X and wrote: "Lighter season back on btw."

During Lighter's Q3 investor call held last night via webcast, David Hoffman, speaking as an investor, asked: "Given that Lighter has already had extensive prior communication with the CFTC (U.S. Commodity Futures Trading Commission), do you expect the approval of the DCM (Designated Contract Market) and DCO (Derivatives Clearing Organization) licenses to come earlier than the CFTC's stipulated 180-day review period?"

Lighter founder and CEO Vladimir Novakovski responded: "We believe that the extensive prior communication will make the whole process much smoother... The CFTC currently has a lot on its plate, so we can't give an exact timeline yet... However, the CFTC is a fast-moving team internally, so we expect the overall approval process to go relatively smoothly."

Previously, David Hoffman reportedly sold all his ETH and rotated into tokens such as LIT, ZEC, and NEAR, with the rotated tokens subsequently significantly outperforming ETH.