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FTT Price   

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FTT

FTX Token  

#FTT

FTT Price:
$1.48
Volume:
$0.3 B
All Time High:
$83.82
Market Cap:
$0.5 B


Circulating Supply:
328,895,112
Exchanges:
44
Total Supply:
328,895,112
Markets:
71
Max Supply:
Pairs:
48



  FTT PRICE


The last known price of #FTT is $1.48 USD.

Please note that the price of #FTT was last updated over 530 days ago. This can occur when coins have sporadic price reporting, no listings on exchanges or the project has been abandonded. All #FTT statistics should be considered as 'last known value'.

The lowest FTT price for this period was $0, the highest was $1.48, and the exact last price of FTT was $1.47898.

The all-time high FTT coin price was $83.82.

Use our custom price calculator to see the hypothetical price of FTT with market cap of SOL or other crypto coins.


  FTT OVERVIEW


The code for FTX Token is #FTT.

FTX Token is 3.3 years old.


  FTT MARKET CAP


The current market capitalization for FTX Token is $486,429,642.

FTX Token is ranking upwards to #69, by market cap (and other factors).


  FTT VOLUME


The trading volume is very large during the past 24 hours for #FTT.

Today's 24-hour trading volume across all exchanges for FTX Token is $338,102,854.


  FTT SUPPLY


The circulating supply of FTT is 328,895,112 coins, which is 100% of the total coin supply.


  FTT BLOCKCHAIN


FTT is a token on the Ethereum blockchain, and has digital contracts with 4 other blockchains.

See list of the FTT Blockchain contracts with 5 different blockchains.


  FTT EXCHANGES


FTT is integrated with many pairings with other cryptocurrencies and is listed on at least 44 crypto exchanges.

View #FTT trading pairs and crypto exchanges that currently support #FTT purchase.


  FTT RELATED


Note that there are multiple coins that share the code #FTT, and you can view them on our FTT disambiguation page.


  FTT RESOURCES


Websiteftx.com
Whitepaperdocs.google.com/document/d/1u5MOkENoWP8PGcjuoKqRkN...
TwitterFTX_Official
Redditr/FTX_Official
TelegramFTX_Official
Mediumftx
Instagramftx_official


  FTT DEVELOPER NEWS



How To Use Quant Zone To Automate Your Trading

Disclaimer: Please be very careful when building Quant Zone rules. A small mistake can lead to a large loss of funds as the QZ will continue to run every 15 seconds as long as the conditions set by the user are met, so be sure to double and triple check both the condition and the actions to ensure the QZ is coded to do exactly what you want. It is advised that after saving your QZ rule that you monitor its actions for a bit to make sure it is acting as intended. None of the following is trading advice, example trades are merely for illustrative purposes. Users should use the Quant Zone at their own risk.What is Quant Zone? The basics: QZ makes it very easy to build automated trading strategies allowing users to execute the most basic of strategies like scaling into/out of a position, to more complex strategies that would be hard to accomplish manually, such as basis trades, TWAPs, etc. Users can take advantage of this to decrease the amount of time and work needed to trade, to reduce slippage, and take advantage of opportunities 24/7/365. A QZ rule is made up of two parts, triggers and actions. The trigger is a condition, or set of conditions, that when met, trigger the QZ to execute the desired actions. When triggered, the QZ runs every ~15 seconds. The conditions can be a wide range of functions, like your position size on a given market or across your account as a whole; your account balance, available balance, or levera...




The FTX Foundation for Charitable Giving

FTX has grown tremendously this past year. Our daily volume is averaging $5b, our userbase has grown, and this week we unveiled trading on Blockfolio. Those are just the start; there’s a ton of big things on the horizon. We are pretty happy with how things have been going in 2021, both for us and for the crypto community as a whole. It’s important in times like these, though, to never lose sight of the fact that revenue and expansion can only ever be step one of a two-step plan; they are not ends in and of themselves. FTX was founded with the goal of having the largest possible positive impact on the world. That’s why, since the beginning of 2020, the exchange, its affiliates, and its employees have donated tens of millions of dollars to charitable causes, with some among us having pledged to donate the majority of what we make here. We’re proud of that, and we want to do more of it in the years to come. But as we’ve had more discussions around this topic, we’ve come to realize that something has been missing. It’s a cliché, but we couldn’t have done any of this without you, the users; no company can go without its customers, of course, but the phrase is doubly true in any situation where network effects are at play. And so it feels right that you have a say in where our collective donations go. That’s why we’ve started the FTX Foundation. Its mission is the same as our mission: to make the world not jus...




Effective Altruism: Giving in Crypto

Join us on December 22nd at 5PM PST (01:00 UTC, 09:00 SG/HK) as the CEO of FTX, Sam Bankman-Fried, Founder of Ethereum, Vitalik Buterin, and Managing Partner at Dragonfly Capital, Haseeb Qureshi will be getting together before the holidays to share their views on giving in crypto, Effective Altruism, and their work in the space. In the spirit of giving, Sam, Vitalik and Haseeb will each be personally donating $50,000 to a charity of the community’s choosing. They have each selected one of their favorite charities, and will let Twitter vote which charity will be the recipient of the pooled $150,000 donation. Follow us on Twitter so you don’t miss the poll! At December 22nd at 5PM PST (01:00 UTC, 09:00 SG/HK), the Twitter poll will be finalized, and the panelists will make their donations to the winning charity to kick off the event. In addition, we welcome you to donate with us to these charities and will have a link to donate on the event’s page. It’s been a great year for the crypto industry. In the midst of celebrating all-time highs, it’s important that we as a community do our part and pay it forward. Sam, Vitalik, and Haseeb all organize their giving according to the philosophy of effective altruism. Effective altruism is an impact-focused approach to charity, using high-quality evidence and rigorous reasoning to determine how to improve the world as much as possible. It is also a community of people taking t...




FTX gets a new look

We’ve had a lot of exciting new developments at FTX in the past few months. From stock trading to increased capacity for load to prediction markets to spot margin, we’ve heard what features the crypto community wants from an exchange, and we’ve listened. But while our products and features have evolved quickly, our user interface hasn’t changed much since we launched… Until today. We’re launching a new and improved version of the FTX site — all the products and functionality you’ve come to expect, but with a sleek new feel and easier access to the most important trading features. Just a few highlights:A collapsible side panel that shows all of FTX’s markets from any part of the site — searchable, filterable, and customizableTools for switching between, creating, and managing sub-accounts pages to make trading with multiple strategy easier than everTradingView chart settings that auto-save between usesMore natural layout customization: dragging, resizing, and rearranging that clicks into placeExecution information as you hover order the order-book: average price and cumulative size…and a bunch of other improvements Check it out! Be on the lookout for more from us — new products, features, and UI improvements are on their way. Reach out with any issues or ideas at feedback@ftx.com — we’d love to hear from you!




Introducing Spot Margin Trading on FTX

A surprisingly large number of us come from a trading background. And as traders, we think a lot about capital efficiency and liquidity. This is reflected in some of the fundamental decision on the platform including subaccount-wide cross-margining system and easy ways to access leverage. Today we’re introducing spot margins which allows users to borrow additional funds for trading. Previously, when using FTX for spot markets, you must have adequate balances in the quote currency to exchange for the base currency. So if you had $10 in your account, you could only buy crypto worth upto $10 in the spot market. But what if you wanted to enter into a short position? Or you felt that a particular asset would 🚀 and wanted to take a more aggressive position? Now, so long as you hold sufficient collateral you may be able to enter those trades. But who are you borrowing the funds from and how much? When you open a margin position, you’re extended funds to cover the entire value of your trade. So, if you have $10 as collateral and buy Bitcoin worth $50, you’d be borrowing additional $40 (position would be $50 in BTC and -$40 USD). And these funds are coming from your peers on the platform who’ve decided to lend out their USD. And so correspondingly, we’re launching a platform whereby you can elect to lend your assets. For example, if you’ve got BTC that you want to hodl, you can decide to lend it on FTX to get yield f...




FTX Global Volume Report

Today we’re releasing our investigation into cryptocurrency volume on exchanges around the world. To see our live-updating results, visit. CoinMarketCap has taken steps to identify fake volume, but there are still more to take. Studies like the one conducted by Bitwise Asset Management come up short in the other direction, filtering out too much real volume. Alameda Research, a global liquidity provider and our partner in this investigation, has the expertise required to draw a meaningful line between real and fake crypto volume. This report is accompanied by an in-depth paper that documents our methodology and analysis, where you can dive into our criteria, scoring method, and results. You can also read the article Forbes wrote about the report. Our goal is to provide FTX customers with more accurate data in order to make more informed decisions. We’re excited for the crypto community to use this report to navigate our cluttered ecosystem. Check out our volume report




Margin Vs Futures

Let’s say you own 100 BTC and you want to hedge them. You have two options: short sell 100 BTC/USD on an exchange with margin trading, or sell 100 BTC futures. Which is better?Arguments for Margin Margin trading has two great properties. The first is fungibility. Let’s say you own 100 BTC on Coinbase and hedge it by shorting 100 BTC/USD on margin on Kraken at a price of $8,000. You can then send your 100 BTC over from Coinbase to Kraken, and immediately settle. Because your short position is literally a BTC short, you can combine your 100 BTC long with your {100 BTC short, $800k long} together to generate 800,000 US dollars, and then withdraw those dollars. You could then send those US dollars back to Coinbase and buy back your BTC, successfully completing an arbitrage in a day or less. On the other hand, let’s say you shorted 100 BTC futures on BitMEX (say the June expiring quarterly futures) to hedge your Coinbase BTC. Sure, you can send your BTC over to BitMEX to use as collateral for your BTC futures short position, but you can’t then settle the position and withdraw any USD. The BitMEX BTC futures don’t really become fungible with real, physical bitcoins until the expiration date at the end of the quarter. This means that while you can close down a margin hedge in a day, it often takes months to close down a futures position, and your 100 BTC of capital is tied up the entire time. The second large advantage...




FTX Liquidation Process Flow Chart

FTX Liquidation Process FlowchartNormal Trading Say some account A deposits $1m of collateral to buy $5m of BTC futures. They are currently 5x leveraged, and a 20% BTC move away from bankruptcy. They can trade normally. Account A: Position: long $5m Assets: $1m Leverage: 5x Distance from bankruptcy: 20%.Orderly Liquidation Now say that BTC drops 11%. A has dropped below Initial Margin Fraction (10%) and can no longer send orders. Account A Position: long $5m Assets: $450k Leverage:11x Distance from bankruptcy: 9%. Cannot Send Orders Now say that BTC drops another 5.5%, or 16.5% total. Account A has dropped below Maintenance Margin Fraction (4%). Liquidation orders are being sent to the market to sell account A’s BTC futures. Account A Position: long $5m Assets: $175k Leverage: 29x Distance from bankruptcy:3.5%. Liquidation Orders Sent Now say BTC drops another 2%, or 18.5% total. Account A has dropped below Auto Close Margin Fraction (2%). The account’s entire position and balances are being sold to the Backstop Liquidity Providers and Insurance Fund. Account A Position: long $5m Assets: $75k Leverage: 67x Distance from bankruptcy:1.5%. Auto Closing Against BackstopsPrice Gap Finally, say that instead of the above, BTC gaps down 20.5% total, fast enough that FTX has not liquidated any of its position yet. Account A is now beyond bankrupt. Account A Position: long $5m Assets: -$25K Leverage: N/A Distance from bankruptcy...




Our Liquidation Engine — how we significantly reduced the likelihood of clawbacks from ever…

Our Liquidation Engine — how we significantly reduced the likelihood of clawbacks from ever occurring You can see the specs here. You can also see a flowchart of the liquidation process here. It’s first worth making explicit: the thing that causes socialized losses, and clawbacks, and auto-delevering, is when an account goes beyond bankrupt. If a user has a leveraged futures position on and markets move against their account enough that their net asset value is negative, then someone has to pay for that loss; and in crypto you can’t reposses assets from the bankrupt account’s owner from outside the system, so you’re stuck with other users — the users who aren’t getting liquidated — footing the bill. Like most liquidation engines, the one FTX uses starts by detecting when a user has dropped below maintenance margin. Unlike many other platforms it chooses intelligent, efficient values for these — some other platforms, like OKEx, are fucked by the time a liquidation starts because their maintenance margin was too low and there is no way for them to liquidate such a large position so quickly. We send reasonable, volume-limited liquidation orders to close down positions that drop below maintenance margin (which starts at 4.5% and increases with position size). We don’t sell so quickly that the liquidation orders themselves will crash the market; that would be dooming the entire process. We als...




  FTT NEWS


BTC Calms at $46K After ETF Rollercoaster, BCH and FTT Explode by Double...

    The first trading day of 11 spot Bitcoin ETFs on the US stock markets was quite eventful, with numerous price movements that resulted in a multi-year peak and a massive dump. The altcoins are also slightly in the red now on a daily scale, aside from BCH and FTT, which have soared by double digits. BTC's Rollercoaster Kept Going The primary cryptocurrency received controversial recognition and validation from the US Securities and Exchange Commission on Wednesday when the regulator finally greenlighted almost a dozen exchange-traded funds tracking its performance. Nevertheless, Gary Gensler had some negative comments about the asset after the approvals, which didn't go without a few accidents. This resulted in increased volatility for BTC. The asset dumped and pumped by several thousand dollars on Wednesday, and the situation worsened on Thursday - the first trading day for those products. While the trading volumes skyrocketed to over $4 billion within a day, Bitcoin's price shot up to over $49,000 for the first time in almost two years. Minutes later, the asset tumbled by over three grand, leaving millions in liquidations. BTC has calmed since then and currently sits at around $46,000. Its market capitalization remains just inches above $900 billion, while its dominance over the alts is slightly over 51% on CMC. BTCUSD. Source: TradingView BCH, FTT on a Roll Most alternative coins mimicked BTC's highly volatile performance in the past few days but have calmed now with minor l... read More



FTX Token Jumps Another 15% as Analyst Identifies This Token as the Next...

    FTX Token (FTT) has continued its upward trajectory over the weekend, gaining another 15% to reach its highest level in a year. FTT has been rallying nonstop since early November on speculation that the collapsed FTX exchange could make a comeback with an “FTX 2.0” relaunch at some point. While FTT grabs headlines, investors are also paying attention to the presale for Bitcoin ETF Token (BTCETF), which aims to provide exposure to the ongoing spot crypto ETF narrative. FTX Token Surges on Speculation of FTX Exchange Relaunch FTT is now hovering around the $5.07 level, representing a massive 369% rise in the past 30 days. There are two critical drivers behind FTT’s ongoing price pump, with the first being speculation that the collapsed FTX exchange could be set to relaunch. Comments from SEC chair Gary Gensler about operating within the law fueled rumors that FTX might reboot under new leadership, aiming to rebuild trust by making proper disclosures and not misusing customer funds. This speculation of a potential FTX relaunch has significantly boosted demand for FTT. Secondly, FTT soared after FTX’s bankruptcy estate obtained court approval to sell trust assets worth around $873 million. These assets include shares in Grayscale and Bitwise crypto funds. The approval to liquidate these holdings is seen as positive since it will help repay creditors from FTX’s 2022 collapse – lifting investor sentiment around FTT. Between the rumors of an FTX... read More



FTX Token (FTT) Soars 10% Daily, Bitcoin (BTC) Wobbly at $37K (Market Wa...

    Bitcoin's underwhelming performance continues as the asset slipped below $37,000 on a few occasions in the past 24 hours. Most altcoins have seen a second consecutive day of price drops, with DOGE, TRX, ADA, LINK, and others declining by more than 3%. BTC Shaky at $37K Last week was a lot more volatile for the primary cryptocurrency, mainly because of the $4.3 billion settlement deal made by Binance with the US Department of Justice. Additionally, the former's CEO had to step down, which prompted the enhanced fluctuations, resulting in BTC dumping and pumping by around $2,000 on a few occasions on Wednesday and Thursday. Nevertheless, the bulls took charge on Friday and drove the asset to an 18-month peak at $38,500. Shortly after, though, bitcoin started to lose momentum and slipped back down to under $38,000, where it spent the weekend. Monday saw more price declines, with BTC slipping under $37,000 a few times. The past such example came hours ago, but bitcoin currently stands just inches above that level. Its market capitalization has decreased to $725 billion, but its dominance over the alts is on the rise at 51.7%. BTCUSD. Source: TradingView Few Alts Defy Market Sentiment Most of the larger-cap alts have continued to trade in the red on a daily scale. Ethereum went below $2,000 earlier today but has recovered some ground and now stands just above it even though it's 1.7% down on the day. BNB, XRP, SOL, LTC, DOT, BCH, and LEO have declined by similar percentages. More d... read More



FTX's FTT Token Leads Market Gains With 55% Rally, What's Driving It?

    The utility token of the defunct crypto exchange FTX, FTT is one of the top gainers in the last few days, rising 55% in just 48 hours alone. This has led to speculations as to what may be driving the token’s rally. One of them relates to a recent event in the crypto industry.  FTT Token's Recent Rally Propelled By Binance News In a post on its X (formerly Twitter) platform, the market intelligence platform Santiment noted that the second rally for FTT came after the Binance news. The world’s largest crypto exchange and its former CEO Changpeng “CZ” Zhao had both pleaded to criminal charges and agreed to a settlement of over $4 billion in fines. As to the correlation between both events, Binance and FTX have always been closely knitted in several regards. For one, CZ, in particular, has sometimes been credited for being responsible for FTX’s collapse. Prior to the bank run on FTX, the former executive had made a tweet about his company liquidating their FTT holdings.  As such, it is believed that Binance, going through this difficult phase, comes off as bullish for the FTT token because of the animosity that the FTX and Binance ecosystem share. Interestingly, while FTT has continued to rally, Binance’s BNB has suffered an inverse fate. BNB is down by over 6% in the last seven days, according to data from CoinMarketCap.  Sam Bankman-Fried’s Conviction Also Contributed It is worth mentioning that the FTT rally didn’... read More



FTX Token (FTT) Jumps 20% Following the Binance-DOJ Settlement: Details

    TL;DR FTT, the token of the defunct crypto exchange FTX, has seen a significant rise in value, increasing by over 20% in 24 hours and 310% monthly, possibly influenced by the overall bullish trend in the crypto market, with Bitcoin and Ether reaching yearly highs. Rumors of FTX's potential revival, hinted at by SEC Chairman Gary Gensler, have also been a driving factor in FTT's price surge, suggesting a possible comeback within legal frameworks. FTT's ascent may be further fueled by the recent turmoil at Binance, including a $4.3 billion money-laundering settlement and the resignation of CEO Changpeng Zhao, which coincided with a market correction and a drop in Binance Coin's value. What's Driving FTT Up? The cryptocurrency market has experienced enhanced volatility lately, with many assets, including Bitcoin (BTC) and Ether (ETH), charting substantial price swings. Surprisingly, one of the best performers as of late has been the native token of the now-defunct crypto exchange FTX - FTT. Its valuation has surged by over 20% in the past 24 hours and a whopping 310% on a monthly basis (per CoinGecko's data). FTT Price, Source: CoinGecko FTT's impressive ascend started at the beginning of November and could be attributed to the overall bullish sentiment reigning in the industry back then. Recall that BTC spiked to a yearly high of almost $38,000, whereas ETH surpassed the $2,100 level.  Another factor pushing FTT's price up could be the rumors t... read More



Is Buying FTT Now A Once-In-A-Life Opportunity For FTX Believers?

    FTT, the native token of the FTX ecosystem, rallied by 180% last week, emerging as one of the top performers. The rally, Kaiko, a blockchain analytics platform observes, was primarily due to comments by the stringent United States Securities and Exchange Commission (SEC) leader that the FTX 2.0 relaunch is possible.  FTT Soaring On Hopes Of FTX Relaunching In an X post on November 14, Kaiko also notes that related FTT trading volume soared, signaling possible accumulation by traders and believers of FTX. There was a significant collapse on November 8 when FTT fell by 90%, taking the coin from around $22 to as low as $2. FTT is trading at around $3.22, up 232% from October 2023 lows, looking at the performance in the daily chart. As fundamental events around FTX unfold, FTT's trading volume also rises. Compliance With The Law Is Crucial: SEC Chairperson There could be more gains for FTX in the days ahead should there be more solid news of an FTX 2.0 relaunch following Gary Gensler's comments last week. Then, Gensler told CNBC that a revived FTX could see the light of day if only leaders taking over clearly understood existing laws.   The SEC chairperson's comments follow speculations that the former New York Stock Exchange (NYSE) president, Tom Farley, is among the three bidders planning to buy FTX.  'If Tom or anybody else wanted to be in this field, I would say, 'Do it within the law. Build investors' trust in what you're doing and ensure that... read More



Weekly Market Recap: Crypto Economy Surges to $1.4T as FTT and ORDI Outs...

    This week, the crypto economy climbed to the $1.4 trillion range as dozens of virtual assets witnessed gains. From November 4 to Saturday, November 11, 2023, several crypto assets recorded triple-digit weekly gains, and a great deal captured double-digit gains. This week, the top two gainers include FTT and ORDI, as they jumped 291% and 158% against the U.S. dollar, respectively.Surge and Decline: The Dual Faces of This Week's $1.4 Trillion Crypto Market As of this report, the crypto economy boasts a valuation of $1.4 trillion, with $85.36 billion traded in the past 24 hours on Saturday. In the span of the preceding week, bitcoin (BTC) appreciated by 6.5%, while ethereum (ETH) posted an 11.8% increase. This week, a significant number of digital currencies outpaced the two leading coins' growth figures, although 15 of the top 200 cryptos by market cap experienced declines during the same period. The week's most impressive performer was ftx token (FTT), soaring 291% against the U.S. dollar, in spite of its association with a defunct exchange and its minimal, concentrated ownership - further marred by the FTX founder's fraud conviction. Following FTT, ordinals (ORDI) secured the spot as the second-largest climber, surging 158%. ORDI, a BRC20 token that operates on the Bitcoin network, shares the same supply limitation. The Kujira Network's token, kujira (KUJI), captured third place in gains, escalating by 141% over the week. Terra's luna (LUNA 2.0) token claimed the title of t... read More



FTT Explodes 250% Weekly Amid FTX Revival Rumors, BTC Flat at $37K (Week...

    After a highly volatile and mostly positive trading week, bitcoin has finally calmed at around $37,000. The same cannot be said about numerous larger-cap altcoins, including Solana, Shiba Inu, Tron, Dogecoin, and Avalanche. BTC Stalls at $37K The business week started on a negative note, with BTC slipping below $35,000 amid lower trading volumes. However, things quickly picked up on Tuesday, and the bulls sent the cryptocurrency flying to almost $26,000. Although the asset was unable to overcome that level at first and was pushed back down to $35,200, it reversed its trajectory on Wednesday evening and Thursday. It saw a massive surge on Thursday that brought it to an 18-month peak at $38,000. Nevertheless, the bears intercepted the move at that point and drove bitcoin south hard. In a matter of minutes, BTC found itself dumping to under $36,000. The bulls managed to intervene once more and started recovering some of the lost ground. Nevertheless, BTC couldn't go higher than $37,600 and currently sits at around $37,000 after a sluggish 12 hours. Its market capitalization remains above $720 billion, and its dominance over the altcoins is close to 51.5% on CMC. BTCUSD. Source: TradingView FTT Skyrockets Amid Rumors of Restart Ethereum was among the top performers in the past few days as BlackRock registered a trademark in Delaware to potentially file for a spot ETH ETF in the States. The second-largest digital asset shot up by over $200 in hours and marked a 7-month high at ove... read More



FTT Skyrockets Amid FTX Acquisition Rumors Tied to NYSE's Ex-President

    FTX's proprietary token, FTT, has witnessed an impressive surge of over 80% following reports that say Tom Farley, the former president of the New York Stock Exchange (NYSE), is potentially interested in acquiring and rebooting the collapsed exchange.FTT Price Jumps More Than 80% Over FTX 2.0 Speculation On Thursday, FTT's value soared, escalating from an early-day trough of $1.22 to a zenith of $2.38. Sparking this ascent were disclosures hinting at Tom Farley, who steered the NYSE Group from 2014 to 2018, as a contender in the pool of prospective buyers for FTX. These speculations were fueled by a Wall Street Journal article quoting sources “familiar with the matter.” Since the announcement, FTT has notched an 82% gain against the dollar, and its 30-day trajectory shows a 111.8% uptick. On the same day, FTT's trading volume hit $485.99 million, ranking it as the 13th most traded crypto asset amongst over 10,000 contenders. Currently, FTT has approximately 28,713 holders, with the single largest wallet holding 59.5% of FTT's total circulating volume of 328.89 million. The top echelon of 100 FTT holders possesses a staggering 98.73%, or 324,724,765.33 FTT coins as of November 9, 2023. Market analysis indicates a potentially overstretched rally, with the relative strength index (RSI) reaching a high of 86.47, which could suggest an imminent cooldown. The Stochastic oscillator and the commodity channel index (CCI) still portray a strong, albeit erratic, market driv... read More



FTX's FTT Price Skyrockets 20%: Here's Why the Rally Has Just Begun

    The FTT price has been challenging gravity and the overall trend in the crypto market for the past two weeks. A recent report hints at a potential bullish continuation based on this scenario and to the benefit of the FTX creditors. As of this writing, the FTT price trades at $1.20, with sideways movement in the last 24 hours. The token recorded a 19% profit in the previous two weeks, while the last 30 days show a 15% increase. In the meantime, major cryptocurrencies have seen half of this price action over the same period. FTT Price On The Verge Of Massive Rally? The surge in the FTT price is supported by the current negotiations between Artificial Intelligence (AI) company Anthropic and the big tech sector. As our sister website Bitcoinist reported, the company received a $1.5 billion capital injection from Amazon. The big tech giant committed to increasing their investment by up to $4 billion via Amazon Web Services (AWS). The partners will work to develop AI solutions to compete with Google, Microsoft, Nvidia, and others. The AI company received support from failed crypto exchange FTX before its collapse in 2022. In that sense, if Anthropic can secure support from other big tech companies, the initial investment made by FTX will increase, allowing the new management to count on more assets and potentially repay creditors. A recent report from the Information claims that Anthropic is exploring further partnerships following its Amazon deal. The OpenAI competitor could re... read More



Will FTX Token Selloff This Week Cause a Solana (SOL) Crash?

    Bankrupt FTX exchange’s motion to sell its crypto assets into fiat currency is scheduled for a court hearing on September 13. On August 23, the firm filed a motion outlining its plan to convert its crypto holdings into fiat to make creditors whole. As a result, creditors and token holders are closely eyeing the outcome of the hearing, which could lead to the recovery of as much as $3.4 billion. Crypto Twitter (X) has also been awash with theories on whether this potential selloff will cause downward pressure on markets, especially Solana tokens. FTX Selloff Fears Mount FTX and Alameda first purchased SOL from the Solana Foundation in August 2020, six months after the launch of the mainnet beta. As a result, the bankrupt firm now holds hundreds of millions of dollars worth of SOL, which is its largest holding. Estimates from court documents put the total at around 47.5 million tokens worth around $685 million. It also has a massive stash of FTT tokens. However, as per the agreement at the time, most of it is locked in vesting until 2028. This means that the firm can only sell $100 to $200 million per week of its crypto assets. I am seeing a lot of wrong information being spread about FTX liquidating their holdings They can only sell up to $200m a week of assets $SOL is their largest holding but most of their Solana is locked up in vesting and can’t be sold for years pic.twitter.com/9dFseAABOx — Johnny (@CryptoGodJohn) September 10, 2023 Not all were convinc... read More



FTT Token Surges 17% After FTX Confirms Rumors Of Relaunch

    Bankrupt crypto exchange FTX has submitted a proposal that may result in the relaunch of its international arm FTX.com. Thereafter, the token experienced a decline, falling as low as $1.42, but has been climbing back up since then. Interestingly, FTT’s gain today has occurred despite the exchange’s plans in relation to its native token. According to the draft plan of reorganization, FTX stated intentions to cancel all FTT claims as a result of their “equity-like characteristics.'  The statement read:   ….claims by holders of FTT (whether or not held on any FTX exchange), preferred stock, and equity investors in the Debtors and related claims. All these claims and interests will be canceled and extinguished as of the Effective Date, and holders will not receive any distribution. At the time of writing, FTT is trading at $1.45, having gone up by 7.39% in the last day. Meanwhile, the token’s daily trading volume is up by 378.65% and is now valued at $43.8 million. FTX.com To Relaunch As Exchange Plans Settlement For Foreign Customers Based on its proposed blueprints for reorganization, FTX intends to sort claimants into several pools. Firstly, customers of the FTX.com exchange will be termed as Dotcom customers, while customers of the FTX US are drawn into the US Customer Pool.  In regards to the settlement of Dotcom creditors, FTX proposes that debtors may partner with third-party investors to set up a new exchange that will... read More



FTX Reboot Proposal Presented as Part of Reorganization Efforts, FTT Jum...

    Disgraced crypto exchange FTX is looking to reboot its operations nearly nine months after sliding into bankruptcy. According to a draft plan filed on July 31st, FTX put forth a plan to categorize its creditors into distinct classes of claimants and offered a potential route for one of these classes to revive the now-defunct exchange with the help of third-party investors, provided that the group reaches a consensus on the proposal. As such, FTX.com offshore exchange users would be classified as 'dot-com customers,' while the FTX.US clients will be called 'US customers,' in addition to other groups. The proposal states that 'each holder of an allowed Dotcom Customer Entitlement will receive a pro-rata share of the Dotcom Customer Pool.' Moreover, 'each holder of an allowed US Customer Entitlement will receive a pro-rata share of the US Customer Pool.' 'Rather than all cash, the Debtors may determine that the Offshore Exchange Company remit non-cash consideration to the Dotcom Customer Pool in the form of equity securities, tokens or other interests in the Offshore Exchange Company, or rights to invest in such equity securities, tokens or other interests' As per the filing, the current draft plan outlines a framework for achieving a 'global settlement' and a 'good-faith compromise' concerning a vast and intricate array of claims, legal causes, and conflicts involving the Debtors. The global settlement involves several facets. However, the cancellation of FTT holders' claim ... read More



Report: FTX Management Seeks Investors to Revive Defunct Crypto Exchange...

    FTX management is actively seeking potential participants to revive the formerly defunct crypto exchange, as reported by sources knowledgeable about the situation. CEO John J. Ray III and other FTX executives have reportedly engaged in preliminary discussions with prospective investors, who could either acquire full ownership of the business or establish a joint venture.FTX Aims for Resurgence: CEO and Executives Enter Discussions to Bring Back Crypto Exchange Over the past few days, FTX's native exchange token, FTT, has experienced a substantial surge in value. In the last 24 hours alone, the crypto asset has seen a 40% increase. Furthermore, within the past week, FTT's value has soared by over 100%, as it surpassed the $2 threshold on Thursday, June 29, 2023. This recent spike in FTT's price is attributable to renewed speculation surrounding the potential reboot of FTX. The latest speculation originated from a report in the Wall Street Journal, which cites sources familiar with the matter stating that FTX management is actively seeking investors for the concept of FTX 2.0. Court filings and the current CEO of FTX, John J. Ray III, have confirmed these efforts on several occasions, stating, FTX “has begun the process of soliciting interested parties to the reboot of the FTX.com exchange.” According to insiders cited by the Wall Street Journal (WSJ), FTX has entered into discussions with potential investors to explore the possibilities of a comprehensive relaunch... read More



FTT Explodes 35% on FTX Revival Idea

    The price of FTT - the native token of the once-leading cryptocurrency exchange - has surged by over 35% for the past 24 hours following the announced reboot bidding process. The coin has been on a massive downtrend since the marketplace's demise in November. According to a recent report, John Ray - the current CEO and Chief Restructuring Officer of FTX and its affiliated debtors - said the company has moved ahead with its plan to reboot. Specifically, the former crypto giant 'has begun the process of soliciting interested parties to the reboot of the FTX.com exchange,' he explained. The potential restart of the platform could be financed by investors, with blockchain lending company Figure assumingly being one of the interested entities. FTT reacted positively to the rumors, spiking by over 35% on a daily basis. As of the moment of writing these lines, it trades at a two-month high of approximately $1.70, whereas a few hours ago, it reached $1.83 (per CoinGecko data). FTT Price, Source: CoinGecko CEO Ray has supported the plan of reviving FTX ever since he replaced Sam Bankman-Fried at the helm. The idea received support from well-known names in the finance world, including Tribe Capital which considered leading a $250 million fundraising campaign. A court filing from last month where Ray outlined that the reorganization would include a bidding process intensified the rumors. The new boss has criticized the former management team, saying they have comingled custom... read More



Former FTX Executive Accused of Fueling a Charity Through Discounted FTT...

    A former executive of FTX allegedly earned profits for a charity by purchasing discounted FTX tokens, FTT, before they became available to the public at $0.05 per unit, according to a report citing anonymous sources. Ruairi Donnelly, the former chief of staff at FTX, has been accused of donating the tokens to Polaris Ventures, a charitable organization based in Switzerland, which later sold the FTT for millions of dollars.Anonymous Sources Claim Polaris Ventures Gained Most of Its Wealth From FTT Transfer in 2019 According to a report from the Wall Street Journal (WSJ) on Tuesday, a charity associated with an FTX executive benefited by obtaining ftx tokens (FTT) at a discounted price. The charity in question is Polaris Ventures, a Swiss organization that claims to support artificial intelligence (AI) and effective altruism, anonymous sources familiar with the matter told the WSJ. One specific AI organization that Polaris Ventures supported was the Cooperative AI Foundation, which received $15 million to support its cause and research. WSJ reporter Alexander Saeedy cites anonymous sources who claim that former FTX chief of staff Ruairi Donnelly purchased FTX tokens (FTT) at a discounted rate of $0.05 per unit, which was reportedly the going FTX employee discount at the time. The sources allege that Donnelly used $562,000 of his own salary to acquire FTT at this rate. Saeedy's report suggests that Donnelly then donated the funds via a grant to Polaris, and that 'the foundation ... read More



Former FTX Executive Generated Millions for His Charity Via FTT Insider ...

    Ruairi Donnelly, former chief of staff at bankrupt crypto exchange FTX, used insider trading information of FTX tokens (FTT) to enrich his charitable foundation, Polaris Ventures. A majority of Polaris's wealth came from Donnelly's initial transfer of FTT after he purchased the token before its public listing, the Wall Street Journal (WSJ) reported Tuesday, citing people familiar with the matter. Polaris Made Millions of Dollars With FTT According to WSJ, Donnelly was one of the first employees at trading firm Alameda Research before he became the chief of staff at FTX in 2019. While working for both firms, Donnelly co-founded Polaris, a Swiss-based foundation that promoted research into effective altruism and artificial intelligence. When FTX was launched, the exchange offered Donnelly and other early employees a deal to purchase the FTT tokens for $0.05 each before they became publicly traded for $1. Donnelly accepted the offer and asked FTX to exchange $562,000 of his salary for 11.2 million FTT tokens. At his request, FTX forwarded the tokens as a grant to Polaris. This was confirmed through the foundation's financial statements. Polaris's Assets Are Stuck on FTX Six months later, after FTT began trading publicly in 2020, the foundation made millions of dollars selling its stash in the open market. Notably, Donnelly was still an employee at FTX. Later that same year, Donnelly resigned from FTX and Alameda to pay more attention to his work at Polaris. Eventually, the found... read More



FTX's $5.5 Billion in Alleged 'Liquid Assets' Includes Locked SOL Cache ...

    Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as 'liquid assets.' However, two of the firm's top cryptocurrency caches are not liquid as the company's 47.51 million SOL tokens are locked and the firm's FTT balance distorts the realization of actual liquidity due to FTX's control of more than 80% of the supply.Locked Solana and Illiquid FTT Assets to Complicate FTX's Bankruptcy Process On Jan. 17, 2023, FTX debtors published a press release and visual presentation of assets discovered since the company filed for Chapter 11 bankruptcy protection on Nov. 11, 2022. The FTX debtors claim to have found $5.5 billion via a 'herculean investigative effort,' with $3.5 billion reportedly being crypto assets. The visual presentation explains that FTX controls around $685 million in solana (SOL) tokens, approximately 47,511,173 SOL, and using today's SOL exchange rate, that cache is worth much more than $685 million. However, the SOL owned by FTX debtors is locked and this aspect is not mentioned in the visual presentation shown to unsecured creditors. It has been reported that FTX/Alameda managed to purchase 16% of the SOL supply from the Solana Foundation, but there is a lockup schedule. The current stash of 47.51 million SOL equates to 8.82% of the total supply the S... read More



FTX's FTT Token Spikes 43%, A Revival In The Works?

    Amid a bull run, mini or not, literally, anything can pump in the crypto market, even a token such as FTX’s FTT Token. After the tragic fall of the exchange, everything about the exchange crashed, including its reputation. However, after a while, it seems as though a piece of the exchange is trying to stage a revival. Over the past months following the exchange's bankruptcy incident, FTT had fallen from a ranging $25 market price to new lows of around $1. Though it may seem as if there is no hope for the token, some still find it useful as, in the past few days, traders have been seen accumulating the collapsed exchange's crypto in an attempt to make quick gains. FTT Token Surges By Over 40% In 24 Hours Amid the refreshing green market, FTT has taken advantage of the “mini bull run” and has done more than 50% in the last 7 days. At the moment, the FTT token is still printing bullish trends. From an intraday low of $1.64, FTT has skyrocketed to higher highs during the morning hours of January 16. The sudden spike added over 150% to its value in the past 7 days. FTT is now trading at the highest level ever seen since the FTX fallout in early November. At the time of writing, the FTT token is still pumping hard, with a 24-hour high of $2.62 and a current trading price of $2.33. A Revival Happening? Given the state of the FTT token prior to the pump and the sudden surge, the chances appear to be less of a revival but instead a manipulation by traders wanting ... read More



FTX's Exchange Token FTT Sees Mysterious Pump Amid Bankruptcy Case, SBF ...

    As the FTX bankruptcy case and fraud charges against co-founder Sam Bankman-Fried continue to unfold, the value of the exchange's token, FTX Token (FTT), has seen significant growth. Since Jan. 9, 2023, FTT has risen 28.42% and currently sits above the $1 range, following a dip below that threshold.FTT Token Jumps 28% Rising Above the $1 Threshold The value of FTX's exchange token, FTT, has seen a marked increase over the past two days. On Jan. 9, 2023, the coin reached $1.36 per unit. While some of those gains have been lost, FTT is currently holding above the $1 range at $1.22 per coin as of 9:30 a.m. Eastern Time on Jan. 11, 2023. The reason for this surge in value is uncertain, as FTT's tokenomics are tied to the now-defunct FTX exchange and its potential future growth. FTT's levels of ownership concentration are extremely high, with a single address controlling 59.55% of the entire FTT supply. Additionally, an unknown hacker holds 45.85 million FTT tokens, comprising 13.94% of the circulating supply. Another unknown address holds 10 million FTT, or 3.04% of the total supply. FTT's value fell below the $1 range on Dec. 19, 2022, and remained below that threshold until a spike on Jan. 9, 2023. The most active crypto exchanges trading FTT currently include Binance, Mexc Global, Kucoin, Gate.io, and Sushiswap. On Sushiswap alone, there is roughly $104,496 in FTT trades paired against wrapped ethereum (WETH). The overall global trading volume for FTT is approximately $23.81 ... read More



FTX Token Jumps 65% As SBF Returns Home, Can FTT Hold The Gains?

    FTX Token (FTT) saw massive gains on Thursday as news of former CEO Sam Bankman-Fried making bail spread across the space. The rapid uptick in the price of the token showed the positivity, albeit brief, that had spread across investors in the token. However, as the dust settles on the disgraced founder, the question now becomes whether the digital asset can hold the gains from yesterday. FTT Jumps 65%  On Thursday, Bankman-Fried’s parents had put their home up to raise money for the $250 million bond put on the former CEO, with friends and associates speculated to have helped come up with the 10% collateral required for his release. However this was achieved, Sam was released under house arrest. Soon after the news broke, the price of FTX’s native token FTT made a significant jump. After trending just below $1 for the better part of the week, the 65% push had brought it above $1.1. This brought renewed vigor to the market and momentum rightfully picked up. The problem now is that FTT has not done a good job of holding onto these gains. Naturally, the brief surge in price had triggered sell-offs among investors looking to take out some profit, triggering another fall below $1. In the early hours of Friday, there had been a 9% jump that brought FTT’s price above $1 once more, but even this would not hold. Support remains weak at $1 and it is now a battle between the bears and the bulls to turn this critical level in their favor. Right now, the bears re... read More



FTX Completed the Blockfolio Deal Mainly in FTT Tokens: Report

    The collapsed cryptocurrency exchange FTX reportedly paid 94% of the $84 million purchase of a majority stake in Blockfolio in FTT tokens.  The coin played a leading role in the platform's crash last month. CZ said Binance plans to dump its entire FTT stash (23 million tokens worth over $580 million at the time) amid rising worries about the over-exposure of FTX and Alameda towards the former's native asset. New Data on the Blockfolio Deal According to a recent Bloomberg coverage, FTX acquired a majority stake in the trading platform Blockfolio in 2020 using almost entirely FTT tokens (the native asset of the bankrupt exchange).  Sources previously disclosed that the former crypto behemoth financed the agreement with a mixture of digital currencies, cash, and equities, without providing accurate information. Initial reports suggested FTX spent $150 million to finalize the deal. Established in 2014, Blockfolio became one of the leading firms in its field, amassing nearly six million customers in the following years. It shook hands with the notorious FTX to add a retail trading experience for its users and later took the name of the exchange. For its part, the platform's native token was in the spotlight last month after Binance said it will sell its entire FTT holdings (worth $584 million at the beginning of November).  The move triggered a wave of customer withdrawals and FTX could not honor those requests. The exchange filed for bankruptcy ... read More



SEC Charges Against FTX, Alameda Execs Wang and Ellison Reveal Key Findi...

    On Dec. 21, 2022, members of U.S. law enforcement detailed that FTX co-founder Gary Wang and ex-Alameda Research CEO have pleaded guilty to financial fraud charges. The recent charges against Wang and Ellison highlight some key findings and according to the U.S. Securities and Exchange Commission (SEC), FTX’s exchange token FTT is considered a security. SEC Complaint Says SBF 'Directed' and 'Instructed' High-up Execs Like Caroline Ellison to Commit Fraud U.S. attorney Damian Williams told the public on Wednesday that charges have been filed against Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. The Southern District of New York (SDNY) also told the press that Ellison and Wang were cooperating with federal law enforcement and the recent SEC charges identify key findings that were previously speculated on or were unknown at the time. The first glaring evidence shows that the FTX co-founder Sam Bankman-Fried (SBF) said a lot of untruthful things during his recent media tour. The SEC charges show that lied during those interviews about specifics and the SEC accuses Bankman-Fried and Wang of “improperly [diverting] customer assets to Alameda Research LLC and its subsidiaries.” Moreover, the speculation and rumors that said SBF and Wang built a backdoor into FTX for Alameda are also reportedly true, according to the SEC’s accusations. The SEC complaint says SBF, Wang, an... read More



SEC Believes FTX's FTT Token Classifies as Security

    The United States Securities and Exchange Commission (SEC) claimed that FTX Token (FTT), the native cryptocurrency of bankrupt crypto exchange FTX, is a security. The claim was made in a complaint filed late Wednesday in the United States District Court for the Southern District of New York against former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. FTT Token Was Sold as an Investment Contract According to the document, FTX's management team sold FTT as an investment contract from its inception. The company then used proceeds from its token sale to fund the exchange's business operations, growth, and development. The SEC cited the FTT whitepaper and information posted on FTX's website, which described the asset as 'the token powering the FTX ecosystem.' The Commission said the whitepaper highlighted the profit potential of the token, while the website made investors expect a share in the appreciation of the value of FTT. 'FTT was marketed as an investment that would appreciate in value as it grew and expanded in other ways. FTX represented that it 'carefully designed incentive schemes to increase network effects and demand for FTT, and to decrease its circulating supply',' the document read. Market Manipulation The SEC also alleged that the promise of returns incentivized investors to buy more tokens. Additionally, clients who held their assets for a longer period were promised lower FTX futures fees, and this was also designed to increase the demand ... read More



FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Stru...

    Despite FTX’s collapse last month, the trading platform’s crypto token FTT had managed to not plummet all the way down to zero, and surprisingly it hovered below the $2 per unit region after Nov. 12, 2022. For 38 days FTT remained above the $1 per unit area up until Dec. 19, as the token suddenly crashed below the $1 region during the mid-afternoon trading sessions, slipping to a low of $0.89 per FTT at 2:30 p.m. (ET).Bankrupt FTX's Exchange Token FTT Drops Below the $1 Price Range Ftx token (FTT), the crypto exchange ERC20 coin tied to the now-defunct exchange, FTX, broke below the $1 support line on Monday, Dec. 19, 2022. Interestingly, unlike the Terra collapse and the native token LUNA dive bombing to zero, FTT fell from $25.78 per coin on Nov. 5, 2022, to roughly $1.59 per unit on Nov. 14, three days after FTX filed for bankruptcy protection. FTT tapped $1.92 per coin the following day on Nov. 15, and it would not see that price height again after that point. For 38 consecutive days since Nov. 12, FTT has been below $2 and above the $1 range, and it tapped a high of $1.88 per coin on Dec. 9. 11 days later, FTT markets are struggling and for the first time since the token was launched, it reached its all-time low Dec. 19. The exchange token sunk to $0.894 per unit at around 2:30 p.m. (ET) on Monday afternoon. On Tuesday, at the time of writing, FTT is down 8.6% against the U.S. dollar. While FTT’s price remains below $1, a myriad of crypto assets on Tue... read More



Talks of Issuing a New FTT Token Fuel Coin's Price Despite FTT's Broken ...

    Roughly 29 days ago FTX filed for bankruptcy, and the crypto ecosystem has been dealing with a rollercoaster ride of market fluctuations and community drama ever since then. Moreover, the now-bankrupt crypto trading platform’s exchange token FTT is still trading above $1 per unit, and it managed to climb 23.4% higher against the U.S. dollar during the past seven days.FTT Coin Pumps After Crypto Community Members and Sam Bankman-Fried Discuss a New FTT Token Idea For some odd reason, the digital asset ftx token (FTT) is still holding value and on Dec. 10, 2022, it’s been trading for prices between $1.58 to $1.82 over the last 24 hours. FTT is an exchange token associated with FTX from the very beginning, and it was launched more than three years ago in 2019. In fact, this week FTT’s price has increased 23.4% against the U.S. dollar and during the last two weeks, the price climbed 17.5% higher. It’s uncertain why FTT has risen more than 20% this week, but it might be because there’s been talk of issuing a new FTT token. On Dec. 9, the crypto proponent Ran Neuner tweeted about the issuance of a new FTT token. “Fire up the FTX exchange,” Neuner said on Twitter. “Issue a new FTT token. Distribute the token to creditors/depositors. Accrue 100% of profits to token holders. It will be the biggest exchange in the world and users will be made more than whole,” Neuner added. Interestingly, the disgraced FTX co-founder Sam Bankman-Fr... read More



Bitget Airdrops Seed NFT With USD 2M Rewards to FTT Holders During World...

    [PRESS RELEASE - Please Read Disclaimer] The exchange sees users growth while the market sentiment seeks a safe and compliant trading platform Seychelles, December 5, 2022 – Leading global cryptocurrency exchange, Bitget launches its Seed NFTs collection, together with attractive rewards and various perks, and will airdrop NFTs to qualified FTT holders amidst the World Cup period. With a reward pool of close to USD 2 million, this NFT collection is a part of the initiatives implemented by Bitget to assist users affected by FTX's collapse. With the aim of providing investors with financial aid and, at the same time, attempting to rebuild their confidence in crypto with its core values in mind: integrity and transparency. Bitget’s latest airdrop for FTT holders is devised with two parts: first, the eligible users will have to connect their wallet to claim the Seed NFTs on OpenSea, and the NFT holder can then claim the rewards package on Bitget's platform. The package includes free trial funds, a 50% discount on BTC and ETH purchases, airdrop privileges of BGB and other exclusive perks. FTT holders with a balance of at least 10 FTT at the time of snapshot would be qualified to claim their NFT airdrop to unlock their allocated rewards according to their NFT rarity. There are 10,000 Seed NFTs in total for eligible holders, with the rarity ranking from Beginner to Legendary to unlock different reward packages. NFT holders are also qualified to enter the BGB Bounty prog... read More



Sam Bankman Fried Still Thinks FTT Was 'More Legit' Than Most Tokens

    On Tuesday, Sam Bankman-Fried (SBF)’s first long-form interview since FTX’s bankruptcy was published to YouTube by citizen journalist Tiffany Fong. On November 16th, the former CEO offered his perspective on a number of claims made about him since the bankruptcy, and the state of FTX US clients. He also reflected on FTT, the exchange’s native token which he maintained holds more intrinsic value than most other cryptos. What Caused FTX and FTT to Collapse Wong began by questioning SBF regarding prior claims that the CEO altered the FTX’s financial records using a “backdoor” that allowed to execute commands without alerting others. This claim was repeated multiple times by Reuters in the days after FTX’s insolvency, adding that the backdoor was used to transfer customer funds to FTX’s sister trading desk, Alameda Research.  “I certainly wasn’t building some backdoor in the system,” answered SBF during the call. “I don’t know exactly what they’re referring to.” Specifically, Reuters had claimed on November 15th that the backdoor was built by Gary Wang – FTX’s head of engineering. Only Wang, SBF, and his innermost circle allegedly knew about the movement of funds.  Regarding FTT, SBF said that he doesn’t believe the exchange’s token was worthless. “I think its value is more economically underpinned than the average token was,” he said, because of... read More



Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still ...

    While a large fraction of crypto assets dropped a great deal in value during the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin ftx token (FTT) still trades above a U.S. dollar per unit. Moreover, the unknown entity known as the ‘FTX Accounts Drainer,’ still holds the second largest FTT wallet with 45.85 million tokens worth $61.44 million.FTT Remains Above $1 per Unit During the Past 2 Weeks Since the FTX Collapse It’s been over two weeks since FTX filed for Chapter 11 bankruptcy protection and on that day, FTT was still trading for $3.46 per unit. 16 days later, FTT’s price has consolidated and during the past 24 hours, FTT’s been trading for prices between $1.33 and $1.39 per unit. In fact, FTT has remained above a single U.S. dollar since Nov. 12, 2022, and it still has not breached the low it saw in September 2019, back when FTT traded for $1.15 per unit. On Sunday, Nov. 27, the exchange token backed by a bankrupt business has around $5.26 million in global trade volume. This week, FTT tapped a high of $1.53 per unit and a seven-day low of around $1.23 per FTT. Since the inception of FTT, the ERC20 token has seen 411,970 transfers according to the blockchain explorer etherscan.io. On Nov. 27, approximately 24,874 wallets hold the FTT token but the largest wallet holds 195,869,338 FTT or 59.55% of the entire supply. The second-largest FTT owner is the same person as the ‘FTX Accounts Drainer’ hacker and it... read More



People Are Still 'Bullish' About FTT and CEL, 2 Tokens Backed by Bankrup...

    Despite the recent collapse and the exchange filing for bankruptcy protection, crypto traders are still paying more than a U.S. dollar for FTX's FTT token on Friday, Nov. 18, 2022. FTT was once a top-30 crypto asset, and now the token has no rank on specific coin market aggregation sites due to locked FTT tokens entering circulation following the FTX bankruptcy filing.Bankrupt Crypto Exchange FTX's FTT Token Still Trades Above $1 While the FTX exchange collapse is a mess and the new FTX CEO said prior FTX leadership was a 'complete failure of corporate controls,' and it was 'a complete absence of trustworthy financial information,' the exchange token FTT is still trading for $1.48 per unit. Despite the fact that FTX filed for bankruptcy, the coin is held by a few concentrated hands, and the FTT Contract Deployer unlocked 192 million previously locked tokens it has not joined the list of dead crypto coins trading for less than a U.S. penny. At the time of writing, FTT's 24-hour price range has been between $1.46 per unit to $1.62 per FTT. The coin lost approximately 93.9% during the last 14 days and because of the Contract Deployer incident, it is no longer ranked on coingecko.com. On coinmarketcap.com, however, it ranks # 209 on Nov. 18, 2022, out of 21,790 listed crypto coins. After hitting its all-time price high on Sept. 9, 2021, FTT was ranked # 25 on coingecko.com and it had a $7.76 billion market valuation. Crypto Proponents Are Still 'Bullish' About Crypto Coins Like... read More



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