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-Fried (SBF) responded to Neuner’s tweet. SBF replied:
I continue to think that this would be a productive path for parties to explore — I *hope* that the teams in place will do so.
A great number of people made fun of the idea and mocked both Neuner and SBF in the Twitter thread. Bitcoiner Layah Heilpern responded and said: “But then the cycle repeats and we’re back at square one…” Another user replied to Heilpern in the thread and remarked: “Exactly, how absurd is this.”
Despite the criticism, Neuner doubled down on the idea. “If [Binance CEO Changpeng Zhao] and or [Bybit CEO Ben Zhou] are willing to back me and guide me, I’m happy to champion this.” Neuner continued:
Nothing would make me happier than making everyone whole again. And I really think it’s possible.
FTT’s Tokenomics Scheme Was Broken Well Before FTX Collapsed and It’s Even Worse Today, LUNA 2.0 Reimbursement Was a Disaster
It’s quite possible this discussion affected the current price of FTT, as charts show the…
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