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FTX Token price, market cap on Coin360 heatmap

FTX Token(FTT)

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$1.4392
(2.59%)
0.00008706 BTC
Market Cap (Rank#77)
$473,332,635
28,634 BTC
Vol 24h
$6,524,541
394.699 BTC
Circulating Supply
328,895,112.30
Max Supply
352,170,015
2 days agocryptopotato
Solana Foundation Lost Over $180 Million in Crypto on FTX
Solana’s premiere non-profit held major exposure to FTT and SRM tokens within the now-insolvent exchange.
2 days agocryptodaily
SBF To Be Interviewed At NYT Event
The FTX founder will be talking with New York Times columnist Andrew Sorkin at the DealBook Summit on Wednesday. SBF Announces Interview Sam Bankman-Fried (SBF) will be making his first virtual appearance at a public event since the collapse of his FTX ecosystem. On Wednesday, the disgraced founder announced on Twitter that he would be appearing at the DealBook Summit organized by the New York Times on November 30. He disclosed that he would be sitting down for a chat with Andrew Sorkin, who is the founder and editor-at-large of DealBook at the New York Times, He tweeted, “I’ll be speaking with Andrew Sorkin at the Dealbook summit next Wednesday (11/30).” “Nothing Is Off Limits” SBF, who is currently under investigation by law enforcement agencies and financial regulators, is still holed up in the Bahamas, where his now-defunct crypto exchange is headquartered. Although he will not be physically present in New York during the event, a spokesperson with the New York Times disclosed that Bankman-Fried would be participating in the interview virtually from the Bahamas. Sorkin has also confirmed that he will be interviewing with SBF and has even insinuated that he will be bringing up several difficult yet pertinent topics. He tweeted, “A lot of folks have been asking if I would still be interviewing SBF at the New York Times DealBook Summit on Nov 30…The answer is yes. There are a lot of important questions to be asked and answered. Nothing is off limits.” The Downfall Of The Crypto Poster Boy Bankman-Fried had long positioned himself as the poster child of responsible crypto investing. He had been buying out undervalued assets, loaning money for bailouts, and exhibiting fiscal restraint. He has even lobbied US regulators and Congress members and advocated for a bipartisan crypto bill. However, this image collapsed when news broke of discrepancies in FTX’s balance sheets. The exchange’s native FTT token started plummeting in value. This tanked Bankman-Fried’s personal valuation as well, as most of his wealth was held in FTT. He lost his billionaire status almost overnight, with a 95% drop in net worth from $16 billion to $995 million. Soon after, the company applied for Chapter 11 bankruptcy filing, and SBF stepped down from his position as CEO of FTX. Although he has been quite vocal on Twitter, the DealBook interview will be the first one he will voluntarily attend, albeit virtually, since the collapse. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days agocryptodaily
CZ Casts Doubts On Coinbase, Then Backtracks
Binance CEO Changpeng Zhao, in a now-deleted tweet, seemed to have cast serious aspersions about Coinbase and Grayscale. However, as Coinbase CEO responded, CZ seemed to backtrack and quickly deleted the tweet in question. CZ Spooks Markets With the crypto markets in chaos, CZ released a tweet stating that Coinbase could be in a spot of bother regarding its finances. Zhao seemed to add fuel to one of the biggest fears of the crypto market at present, which is that Grayscale, the operator of the biggest bitcoin trust, doesn’t actually hold all the BTC that it claims it does. On its part, Grayscale moved to allay fears, stating that the concerns and comments around its financials are unwarranted. Grayscale has found support in Coinbase, the exchange that maintains Grayscale’s BTC reserves. Zhao’s tweet sought to draw attention to two separate claims around the number of Bitcoin held. The first statement referred to a statement from Coinbase Custody CEO Aaron Schnarch, which stated that the company held 635,000 BTC on behalf of the Grayscale Bitcoin Trust. The second referred to a four-month-old headline referring to the Coinbase exchange holding less than 600,000 BTC. “Just stating news reports, not making any claims. Glassnode probably has more up-to-date data.” Concerns around Grayscale and Coinbase first surfaced over the weekend after Grayscale reportedly refused to implement on-chain proof-of-reserves for all of its crypto holdings. Coinbase CEO Responds Soon after the tweets emerged, Coinbase’s CEO responded on Twitter, assuring users and followers that its Bitcoin reserves were fully backed. “If you see FUD out there – remember, our financials are public (we’re a public company).” Following the response from Armstrong, Zhao seemed to backtrack, deleting the tweet and stating, “Brian Armstrong just told me” the numbers “are wrong. Let’s work together to improve transparency in the industry.” Crypto Twitter Reacts Twitter’s crypto community called out CZ’s tweet, describing it to be ignorant and uncalled for. Ryan Selkis, the founder of Messari, brought Zhao’s attention to the fact that Coinbase had already audited its financials, showing it held around 2 million BTC. The co-founder of the digital asset research firm, Reflexivity Research, stated on Twitter, “That latest tweet CZ made about Coinbase’s Bitcoin holdings that he just deleted wasn’t a great look. I get the argument that he’s trying to protect the industry, but CZ is more than smart enough to know that exchange and custody wallets are separate.” However, others did not hold back in their criticism of CZ, with analyst, trader, and investor @360_Trader tweeting, “CZ just proved today he’s all about one thing… his empire. He IS NOT here to look out for the industry … he deleted the tweet… But now … as I already expected … He’s exposed himself as a villain.” Another trader and investor, @BobLoukas, was also critical of CZ, stating, “CZ ‘Let’s work together to improve transparency in the industry.’ Also, CZ - Let me tweet to millions some random FUD in the middle of a bear market major liquidity event before maybe just reaching out to confirm.” A Deliberate Attempt To Take Down Competition? CZ’s tweets about Grayscale and Coinbase come just over two weeks after his tweets sparked a bank run on FTX, which contributed to its spectacular collapse. Many have interpreted the latest tweets as a deliberate attempt to take out another rival and competitor, although CZ has vehemently denied these claims. During the week of the FTX collapse, Coinbase CEO Brian Armstrong explained that Coinbase’s audits and 1:1 backing of all customer assets would prevent the exchange from meeting a fate similar to that of FTX. Additionally, Armstrong stated that the exchange held no exposure to FTX, FTT, or its sister company, Alameda Research. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agocryptodaily
Is Genesis Filing For Bankruptcy?
Genesis has claimed that it is in talks with investors and wants to resolve its fund shortage without filing for bankruptcy. Bankruptcy Filing Not Imminent Crypto lending platform Genesis might not be one of the dominos that toppled over in the aftermath of the FTX debacle. The company has refuted reports of an imminent bankruptcy filing. It has been in a $1 billion shortfall due to its significant exposure to the defunct crypto exchange FTX. Earlier, there were reports that the firm was having trouble raising money to cover the shortfall and was considering filing for bankruptcy. Although the company never announced a bankruptcy filing, several people familiar with the matter claimed so. However, in a more recent turn of events, a company spokesperson has refuted these claims. According to them, the company is continuing to explore other alternatives through constructive decisions with creditors and has no plans to file for bankruptcy as of now. They stated, “We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.” Genesis Needs $1B Emergency Loan Genesis’s misfortunes started with the downfall of the FTX crypto exchange. The lending platform, which had around $175 million locked away in its FTX trading account, experienced a severe liquidity crisis. According to reports, it had extended a loan to Alameda Research, accepting FTT tokens as collateral, which plummeted to zero after FTX’s collapse. As a result, the Genesis team had to freeze all withdrawals and start considering its options. The company was approaching major investors like Binance and Apollo Global Management for a $1 billion emergency cash loan. However, Binance, which was considered a significant potential backer, turned down the investment. As of now, the company is still attempting to raise funds but might need to go the Chapter 11 route if all other options fail to materialize. Where Does DCG Stand? Industry-wide shockwaves are still destabilizing companies and firms involved in the FTX mess. Grayscale Investment’s Bitcoin ETF, Grayscale Bitcoin Trust (GBTC), is another such firm that has suffered in the aftermath, with its shares dropping by record percentages. Both Genesis and Grayscale Investments share the same parent company, Digital Currency Group (DCG), which already had to bail Genesis out after it was exposed to the now-defunct Three Arrows Capital (3AC) a few months back. Will DCG have to come to Genesis’s rescue once again? What about its own financial health? The questions are building. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agonulltx
Oryen Keeps Breaking Records With a 140% Price Surge. Can It Compete With Big Eyes, FTT, And IMPT?
Oryen network keeps breaking records in the Crypto world as its price went up to 140% during its fourth presale phase. Many Crypto enthusiasts and analysts have noticed this price surge that began in phase one. Some are actively buying the token in leaps and bounds. Investors from FTT, IMPT, and Big Eyes are among […] The post Oryen Keeps Breaking Records With a 140% Price Surge. Can It Compete With Big Eyes, FTT, And IMPT? appeared first on NullTX.
6 days agocryptodaily
FTX Collapse Is Yet Another Nail In The Coffin For Centralization
The volatility of the crypto industry was laid bare for all to see earlier this month when FTX went from being one of the top three cryptocurrency exchanges to filing for bankruptcy within the space of just 7 days. The rapid downfall of FTX came as the company found itself embroiled in a liquidity crisis and pleaded for help from its industry rivals. It agreed to sell itself to its rival Binance - the world’s biggest crypto exchange - only for that deal to fall through within less than 24 hours. Binance said FTX’s problems were just too big to fix, leading to customers fleeing the exchange while they still could. FTX CEO Sam Bankman-Fried warned investors earlier in the week that, unless the company received a cash infusion of $8 billion, he would have no choice but to file for bankruptcy. The cash never materialized, and Bankman-Fried promptly followed through. So how did FTX go from being one of the biggest and most successful crypto firms to bust in such a short space of time? FTX was established by Bankman-Fried in 2019 as a Bahamas-based cryptocurrency exchange, and it very quickly became one of the biggest in the business. Through its exchange, customers could buy, sell and trade Bitcoin, Ethereum, and other digital assets. The company reported earning more than $388 million in net income in 2021 at a time when interest in crypto was surging and the price of assets like Bitcoin hit new all-time highs. Around that time, Bankman-Fried became one of the most prominent names in crypto, spending millions of dollars to lobby for crypto-friendly regulations in the U.S. For a time, he was hailed as the J.P. Morgan of the crypto business, as he made deals to buy out rivals and grow FTX s presence. Meanwhile, his net worth reportedly soared above ten billion dollars. FTX’s and Bankman-Fried’s downfall followed what, at the time, seemed like a fairly innocuous report from the crypto-centric news website Coindesk on Nov. 2. The report revealed how an FTX affiliate - Alameda Research - held a significant portion of its assets in FTT, which is the native token of FTX. The main benefit of FTT was that holders were able to receive a discount on trading fees with FTX. While most ignored the report at first, for those in the know it suggested that FTX was simply manipulating the prices of FTT. Nic Carter, a partner at startup funding firm Castle Island Ventures, told Inside Bitcoin that FTX essentially “created this token out of thin air, gave it some value, and then Alameda utilized it as collateral.” Speculation mounted and pressure quickly began to bear. In light of the report, investors in FTT - notably Binance - began selling off their FTT holdings, causing the token’s price to fall to an unsustainable level. In turn, that led to fears that FTX may not have sufficient assets to pay out to all of its users. What followed was a bank-style run as more people learned of FTX’s potential troubles, and the exchange’s users began racing to withdraw their assets from the platform while they still could. FTX was forced to put a halt to withdrawals on Nov 9. One day prior, it announced that it had agreed on a non-binding deal for Binance to acquire it. However, shortly after FTX halted withdrawals, Binance announced it was pulling out of the deal - saying it did so amid concerns that FTX had mishandled customers’ funds. Bankman-Fried’s last-ditch attempts to secure a rescue deal with other crypto exchanges, such as Kraken, came to nothing, and he was forced to file for chapter 11 bankruptcy on Nov. 11. Shortly afterward, Bankman-Fried announced he was resigning his position as FTX’s CEO. Centralization Caused This Mess At present, it’s still not clear as to how FTX managed to find itself in this position, but one thing we do know is the why - because FTX was a centralized exchange (CEX), it was able to keep its business dealings under the table, away from the scrutiny of its users. There was no way for anyone to sound the alarm in the event it mishandled its customer’s funds. FTX is just the latest in a long line of CEXs that have bitten the dust. Names like Celsius Finance, BlockFi, Voyager Digital and Mt. Gox - they were all CEXs and their business models were as old as those of the banks they say they’re trying to displace. CEXs are money-making businesses and like many of the banks that collapsed in 2008, they have an economic incentive to under-collateralize and take risks with their user’s funds. In the case of FTX, it’s alleged that it used customers' money to make all kinds of dodgy investments. The dodgy practices of CEXs like FTX goes against the very ethos of cryptocurrency. When Satoshi Nakamoto created Bitcoin, he inscribed the words “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” within its genesis block, sending a powerful message around his intentions. With Bitcoin, people would finally be able to participate in an alternative, permissionless financial system governed by code rather than profit-hungry bankers, where the rules are transparent and public, and apply to everyone equally. Bitcoin was later followed by Ethereum and smart contracts, which gave rise to the idea of decentralized finance, or DeFi, which provides an array of modern banking services without the need for banks. The latest debacle around FTX and CEXs shows us that DeFi and decentralized exchanges may finally be ready for prime time. With DeFi, every single transaction is transparent and publicly viewable on the blockchain. The middleman is made redundant, thereby eliminating the opportunity for mischief and under-the-table deals that seek to speculate with customers’ funds. The collapse of FTX is bad news for its many customers, who will surely lose most, if not all of their funds. But at the same time, it may well serve as the catalyst DeFi needs to finally take off. The industry is evolving fast. Today, we no longer need to rely on outdated and buggy platforms like Ethereum, which suffer from network congestion, high fees, and constant hacks. The next-generation DeFi platform Radix enables low-cost transactions in real-time while eliminating the risk of vulnerabilities creeping into its code through its novel use of components and blueprints, which act like Lego building blocks for all manner of DeFi applications. DeFi’s advantage is already clear. Despite the mass selloffs of crypto and the declining value of Bitcoin and other cryptocurrencies, it has been business as usual at DEXs like Uniswap, Balancer, and Curv. With those platforms, users remain free to enter and exit positions as normal and cash out at any time. There’s no danger of investors one day waking up and being unable to access their funds. No single entity controls these DEXs, so no one can arbitrarily put a stop to customers’ withdrawals. In this way, these DEXs are the epitome of consumer protection. Modern DeFi platforms like Radix come with all of the benefits first introduced by Bitcoin - they’re permissionless, transparent, censorship-resistant, and enable self-custody of user’s assets. For anyone who’s determined to remain in control of their finances, DeFi should be the new focus of their economic activity. It’s the only true way for someone to be able to safeguard their assets. The dangers of CEXs were highlighted by Bankman-Fried’s attempts to lavishly court U.S. government regulators. He was notably one of the main backers behind the proposed Digital Commodities Consumer Protection Act (DCCP), which is a piece of legislation that aims to legitimize CEXs at the expense of DeFi. Bankman-Fried even went on record to say that DeFi needed greater consumer protections while he continued to play loose with his customer’s funds. A CEX like FTX of course sees DeFi as a major competitor to its own interests. What Bankman-Fried wanted was not so much consumer protection, but rather an opportunity to entrench his own interests by making it more difficult for DeFi to prosper. So if there is a silver lining to the FTX debacle, it’s that it serves as yet another reminder as to why we should embrace decentralization. FTX’s failure was a failure of centralization, and the smart investors, developers, and users will do well to take notice of that and instead look to a fully decentralized future. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
8 days agocryptopotato
Scaramucci’s SkyBridge Reportedly Bought $10M of FTT in Acquisition Deal With FTX
Anthony Scaramucci invested $10 million into FTT when FTX Venture acquired a 30% stake in SkyBridge Capital.
8 days agocryptodaily
Bahamian Regulators Assume Control of FTX’s Assets
The Securities Commission of The Bahamas announced on Thursday that it directed that all digital assets of FTX Digital Markets Ltd (FDM) be transferred to a digital wallet controlled by the Commission for safekeeping. It has been revealed that at least some of the millions of dollars in FTX customer funds that moved off the exchange under very peculiar circumstances were moved at the direction of Bahamian regulators. FTX’s newly appointed CEO, John Ray said: [There is] credible evidence that the Bahamian government is responsible for directing unauthorized access to the Debtors' systems for the purpose of obtaining digital assets of the Debtors—that took place after the commencement of these cases. The Securities Commission of The Bahamas said on Thursday that it made an order under existing authorities that allow for it to act if it needs to protect clients or their funds. In a press release, The Commission said: The Securities Commission of The Bahamas ('the Commission'), in the exercise of its powers as regulator acting under the authority of an Order made by the Supreme Court of The Bahamas, took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. ('FDM') to a digital wallet controlled by the Commission, for safekeeping. Adding, Urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM. In the latest court filing to become public, FTX said that it has “secured only a fraction of the digital assets of the FTX Group that they hope to recover” adding that it has $740 million in a cold wallet. Reports by Decrypt add that FTX conceded that they were unable to account for three main gaps in tracked assets: These balances exclude cryptocurrency not currently under the Debtors' control as a result of (a) at least $372 million of unauthorized transfers initiated on the Petition Date, (b) the dilutive 'minting' of approximately $300 million in FTT tokens by an unauthorized source after the Petition Date, and (c) the failure of the co-founders and potentially others to identify additional wallets believed to contain Debtor assets. Unauthorised transfers to the tune of $650 million were detected on November 11, which led many to think that it may have been part of a large hack targeting FTX. On that same day, FTX US general counsel Ryne Miller labeled the transfers as “unauthorised” adding that the firm has begun moving its remaining assets to cold storage to “mitigate the damage.” Rumours had been circulating that the unauthorised transfers were the doing of Bahamian authorities, but The Commission issued a statement denying this, saying that “it has not directed, authorized, or suggested to FTX Digital Markets Ltd. the prioritization of withdrawals for Bahamian clients.” The Commission’s statement said that an action such as that could constitute “voidable preference” under its bankruptcy rules and might have required “clawing back funds from Bahamian customers.” The agency added: In any event, the Commission does not condone the preferential treatment of any investor or client of FTX Digital Markets Ltd. or otherwise. FTX Digital Markets filed for Chapter 15 bankruptcy in the United States on November 15, just days after the rest of the FTX group filed for Chapter 11 bankruptcy. Strangely, FDM filed in the Southern District of New York, instead of in Delaware where the rest of the companies issued their filings. To say that what has gone down with the FTX group is bizarre, strange, and downright confusing would be the least. More information is coming to light each day which leaves customers, investors, and the whole crypto industry, as a matter of fact, scratching their heads, and the overall market in shatters. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
8 days agocryptodaily
Genesis sought $1 billion loan before pausing withdrawals
Crypto lender Genesis was seeking a $1 billion emergency loan just before suspending customer withdrawals on Wednesday. Emergency loan Citing a lack of liquidity as the reason, cryptocurrency lending platform Genesis tried to get an emergency loan to deal with the issue. However, the company appears to have not been successful, and all customer withdrawals were suspended on Wednesday. Potential investors According to a spokesperson, cited by a report in the Wall Street Journal, the company was having positive conversations with potential investors. They stated: “Genesis had been exploring all possible options amidst the liquidity crunch resulting from the FTX news. After reviewing a number of options, we made the difficult decision to temporarily suspend redemptions and new loan originations in the lending business so that we can identify the best solution and outcome possible for clients.” Exposure The liquidity issues have at least some of their origin in that Genesis is said to have made a loan to Alameda Research, accepting FTT tokens as collateral. Since FTX has collapsed, the value of the FTT tokens has gone to zero. It was reported on Crypto Daily last Friday that Genesis had around $175 million locked up in an FTX account. Genesis is also said to have been exposed to Three Arrows Capital, a hedge fund that collapsed earlier this year. Probably given the current situation whereby investors are pulling their wealth off of centralised platforms, Genesis has reported “abnormal withdrawal requests”, which led to withdrawals being suspended. Contagion spreads Genesis Block, a crypto retail service provider, and the biggest such provider in Hong Kong will cease trading on December 10 because of solvency issues. Genesis Block has no connections with Genesis Trading. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
9 days agocointelegraph
FTX and Alameda likely colluded from the very beginning: Report
Researchers at Nansen concluded that at least 86% of all FTT tokens were initially controlled by Alameda or FTX.
10 days agocryptopotato
Binance Scraps FTT-USDT Trading Pair From Both Spot and Perpetual Contracts
The world's leading exchange has abandoned the FTT/USDT trading pair on both spot and perpetual contracts.
11 days agocointelegraph
Exchanges delist FTX Token pairs from trading platforms
Binance, BitMEX and KuCoin have delisted FTX Token pairs from their crypto exchange platforms.
11 days agocryptodaily
Alameda Research Had Prior Knowledge Of FTX Token Listings
As per crypto compliance firm Argus, Alameda Research amassed hordes of tokens that were supposed to be listed on FTX. Alameda Research is supposed to be distinct from the Sam Bankman-Fried-led FTX exchange. Prior Knowledge Of Listing Schedule Crypto compliance firm Argus has dropped another bombshell in the ongoing FTX saga. According to Argus, Alameda Research used access to prior knowledge of tokens scheduled to be listed on FTX. It then purchased these tokens and sold them to traders for a profit. The report first emerged on Monday in The Wall Street Journal. The report further added that between 2021 and March 2022, Alameda Research amassed $60 million worth of 18 different tokens. All of these tokens were eventually listed on FTX. Argus is a London-based Crypto Compliance firm. The company was founded last year and boasts of big names, including Y Combinator and Charles Rivers Ventures, among its clientele. Speaking about FTX and Alameda, Omar Amjad, Co-founder of Argus, stated, “What we see is they’ve basically almost always, in the month leading up to it, bought into a position that they previously didn’t. “It’s quite clear there’s something in the market telling them they should be buying things that they previously hadn’t.” The downfall Of FTX And Alameda Alameda Research was founded by Sam Bankman-Fried, who then founded the now-bankrupt FTX. Bankman-Fried stepped away from day-to-day operations at Alameda in 2021. He also maintained that both companies were separate entities. However, the recent bank run forced FTX to pause withdrawals and ultimately file for bankruptcy because a significant chunk of Alameda’s balance sheet consisted of FTT, the native FTX exchange token. A Familiar Pattern Market watchers have stated that similar patterns had emerged at other firms, namely Coinbase and NFT marketplace OpenSea. According to the Department of Justice, Nate Chastain, former OpenSea product manager, was the first ever digital asset trader to be charged with insider trading. Chastain had allegedly used information about which NFT collections would be featured on OpenSea and used it to his own benefit. In June, Chastain was arrested and charged and subsequently moved to have the charges against him dropped, citing that NFTs are “neither securities nor commodities. However, the judge hearing the proceedings denied the motion. In the case of Coinbase, Podcast host and Crypto personality Cobie flagged a suspicious transaction in which an Ethereum wallet purchased $400,000 worth of tokens just before an announcement that they might be listed on Coinbase. That led to the Justice Department charging a former product manager at Coinbase with conspiracy to commit wire fraud. The US Securities and Exchange Commission also filed charges against the individual, stating that he had shared unpublished listing announcements with his brother and family friends. If the Alameda Research allegations are proven to be correct, it would be a far bigger front-running operation than both the ex-Coinbase and ex-OpenSea managers were charged with. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
12 days agocryptodaily
Miami Heat Terminates FTX Partnership, Crypto Daily TV 14/11/2022
In Todays Headline TV CryptoDaily News: Binance, Huobi block FTT deposits. Crypto exchanges Binance and Huobi blocked deposits of FTT, FTX’s native tokens, after about $400 million worth of the tokens were released out of schedule. FTX exchange and FTX US allegedly hacked. FTX and FTX US wallets appear to be hacked, with over $600 million in assets leaving the exchange. FTX telegram group warned traders to uninstall FTX apps and avoid visiting the website as it may download malware and trojans to their devices. Miami Heat arena balks at FTX naming rights. Mere hours after FTX filed for bankruptcy, the Miami HEAT and Miami-Dade County issued a joint statement announcing they were cutting ties with the now-disgraced Bahamas-based crypto exchange - effective immediately. The 19-year contract cost FTX a whopping $135 million. BTC/USD dove 2.7% in the last session. The Bitcoin-Dollar pair plummeted 2.7% in the last session. The Stochastic indicator is giving a negative signal. Support is at 16383.3333 and resistance is at 17319.3333. The Stochastic indicator is giving a negative signal. ETH/USD dove 2.8% in the last session. The Ethereum-Dollar pair dove 2.8% in the last session. The ROC is giving a negative signal. Support is at 1210.2667 and resistance is at 1314.3467. The ROC is giving a negative signal. XRP/USD plummeted 7.5% in the last session. The Ripple-Dollar pair dove 7.5% in the last session. According to the Stochastic-RSI, we are in an oversold market. Support is at 0.3444 and resistance is at 0.3942. The Stochastic-RSI is signalling an oversold market. LTC/USD dove 4.9% in the last session. The Litecoin-Dollar pair plummeted 4.9% in the last session. The MACD is giving a negative signal. Support is at 56.5433 and resistance is at 63.3433. The MACD is currently in the negative zone. Daily Economic Calendar: JP Gross Domestic Product Annualized The Gross Domestic Product Annualized shows the annualized monetary value of all the goods, services and structures produced within a country. Japan's Gross Domestic Product Annualized will be released at 23:50 GMT, the UK's CFTC GBP NC Net Positions at 20:30 GMT, and the US 6-Month Bill Auction at 16:30 GMT. UK CFTC GBP NC Net Positions The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions. US 6-Month Bill Auction The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive. EMU Industrial Production Industry is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines, and utilities are measured by the index of industrial production. The Eurozone's Industrial Production will be released at 10:00 GMT, the US 3-Month Bill Auction at 16:30 GMT, and Japan's Gross Domestic Product at 23:50 GMT. US 3-Month Bill Auction Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. JP Gross Domestic Product The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
12 days agonulltx
Oryen Network Making Incredible Gains, Will It Surpass FTT Or Solana?
The crypto market has been doing poorly for much of 2022. Thus far, it has been a terrible year for crypto investors in some projects. An excellent example of these projects is FTT and Solana. In November 2022, the price of SOL, the native token of Solana, continued to drop. Recently, it has fallen by […] The post Oryen Network Making Incredible Gains, Will It Surpass FTT Or Solana? appeared first on NullTX.
13 days agocryptodaily
Binance Reveals It Has Over $70 Billion in Reserves
After the chaos that unfolded this past week with FTX, many exchanges and firms have taken a pledge towards transparency and have revealed the balances of their hot and cold wallets. Binance, who was the first to advocate for this, has revealed that it has over $70 billion in its reserves. Earlier in the week, Binance CEO, Changpeng “CZ” Zhao, announced that his exchange was to implement a Proof-of-Reserve mechanism to provide “full transparency” using Merkle Trees and emphasized the importance of transparency. In a show of good faith, Binance disclosed its hot and cold wallet balances in a recent blog post. according to what Binance published, the exchange holds $70,675,000,000 in its reserve. The exchange announced that it will share a full audited report soon, but did publish its major tokens on BTC, ETH, BNB, and TRX networks. The exchange holds roughly 475,000 BTC, 4,800,000 ETH, 17,600,000,000 BUSD, 601,000,000 USDC, and 58,000,000 BNB. Data from crypto analytics firm Nansen reveals that 32.99% of the exchange’s assets are in BUSD, 22.92% in USDT, 10.22% in ETH, 8.97 in BTC, 8.60% in BNB, and 16.29% in other tokens. Binance’s decision to publish the contents of its reserves was spurred on by the massive downfall of FTX and its former CEO, Sam Bankman-Fried (SBF). The chaos started when reports emerged that most of FTX’s sister firm, Alameda Research’s funds were held in FTT. Questions were raised around its balance sheet and CZ announced that the exchange would dump its position in FTT tokens. While this took place, it triggered a surge in outflows as more and more customers wanted to withdraw their funds from FTX resulting in a drop in its stablecoin reserves. The exchange then apparently stopped processing withdrawals, but this was denied by SBF. Binance proceeded to announce that it would acquire FTX pending due diligence. After an investigation into the firm’s finances and internal data, Binance backtracked and decided not to go through with the deal. FTX thereafter announced that it had filed for Chapter 11 bankruptcy and SBF stepped down as CEO. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
13 days agocryptodaily
Crypto Roundup Weekly: The FTX Drama
The FTX drama has been the pervasive news in the crypto space this week. The native token FTT lost most of its value, leading to other cryptos being heavily affected as well. Let’s take a close look at how it all started, what all went down, and what is the current situation. The whole thing started when reports emerged that most of Alameda Research’s funds were held in FTT, the token created by its sister concern, the FTX Exchange. Responding to these reports about Alameda Research’s balance sheet, Binance CEO Changpeng Zhao (CZ) announced that Binance would sell the remaining FTT tokens held on its books. Soon after, FTX and Alameda founder Sam Bankman-Fried extended an olive branch toward CZ, tweeting that he would love it if the two of them could “work together for the ecosystem.” The FTX exchange, on the other hand, experienced a surge of outflows as more and more users withdrew their funds, resulting in a drop in its stablecoin reserves. The fall of the SBF empire spelled bad news for the already struggling crypto market, which lost much of the gains it had gradually built up. There was word around the blockchain that FTX had apparently stopped processing withdrawals. However, SBF dismissed these claims and clarified that the withdrawals are still being processed. SBF’s net worth plummeted 95% following the crash of the FTT token, resulting in him losing his billionaire status. Co-founder and CEO of Circle, Jeremy Allaire, called the recent crisis crypto’s own Lehman Brothers moment, referring to the event that set off the unprecedented 2008 financial crisis. CZ tweeted a note meant for his Binance team in which he alluded that Binance was considering buying FTX outright. Things got worse for SBF, when less than a day after reviewing FTX, it was revealed that Binance is “highly unlikely” to continue with its proposed acquisition of the rival exchange. On Wednesday, Binance confirmed that it would no longer move forward with the deal to acquire the troubled cryptocurrency exchange after conducting due diligence. Reuters reported that since the deal with Binance did not happen, FTX is looking at its investors and rivals to raise $9.4 billion. Soon after, FTX announced that in an agreement with Justin Sun’s Tron, holders of select assets, such as TRX, will be allowed to swap them from the FTX exchange to external wallets. The Securities Commission of the Bahamas is cracking down on FTX’s Bahamas-based subsidiary, FTX Digital Markets (FDM), over accusations of not safeguarding customer funds. SBF is also facing an investigation by the U.S. Securities and Exchanges Commission for potential violations of securities rules. The FTX crisis is showing no signs of abating, with the exchange now facing the specter of a potential hack that siphoned away $600 million. FTX Trading filed for Chapter 11 bankruptcy on Friday, while founder and CEO SBF resigned and appointed John J. Ray III as its new chief executive. A shocking report from Reuters reveals that SBF built a “bespoke backdoor” to outwit FTX’s compliance systems without raising red flags. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
13 days agocoindesk
Binance, Huobi Block FTT Deposits After $400M Worth of Tokens Illicitly Released
The tokens were illicitly released from FTT’s main deployer address.
15 days agocoindesk
Cuáles son las tenencias de FTX y Alameda en sus billeteras públicas de Ethereum
Las tenencias más altas de Alameda son de USD Coin, mientras que las de FTX continúan siendo de su propio token, FTT.
15 days agocoindesk
Here’s What FTX and Alameda Now Hold on Public Ethereum Wallets
Alameda’s largest holdings are in USD Coin, while FTX’s biggest holding remains its own FTT token.
16 days agocointelegraph
US lawmaker warns of 'major consequences' for users of unregulated crypto firms, citing FTX
"FTX’s FTT tokens are now worthless, and even worse, FTX.com customers are completely unable to access their funds,” said Maxine Waters.
16 days agocoindesk
FTX Has Made $34M in Trading Fees Since Recent FTT Token Burn Despite Withdrawal Freeze
Cryptocurrency exchange FTX has made $34 million in trading fees since the last time it burned its native FTT token on Oct. 31.
17 days agocryptosrus
FTX-Binance standoff highlights the need for clear rules — Sen. Lummis
The feud between the CEOs of crypto exchanges FTX and Binance — Sam Bankman-Fried (SBF) and Changpeng “CZ” Zhao — not only crashed cryptocurrency prices but also reminded regulators to step in and avoid similar fallouts in the future. Ever since CZ publicly announced Binance’s intent to liquidate its FTX Token (FTT) holdings, investors anticipating […] The post FTX-Binance standoff highlights the need for clear rules — Sen. Lummis appeared first on CryptosRus.
17 days agocoindesk
Que són y cómo funcionan los tokens emitidos por exchanges
En los últimos días, la incertidumbre que despertó FTT, el token emitido por el exchange FTX, dejó a muchas personas preguntándose cómo funcionan y qué les da valor. Aquí te lo explicamos.

About FTX Token

The live price of FTX Token (FTT) today is 1.4392 USD, and with the current circulating supply of FTX Token at 328,895,112.30 FTT, its market capitalization stands at 473,332,635 USD. In the last 24 hours FTT price has moved -0.0056 USD or -0.00% while 7,135,316 USD worth of FTT has been traded on various exchanges. The current valuation of FTT puts it at #77 in cryptocurrency rankings based on market capitalization.

Learn more about the FTX Token blockchain network and how it works or follow the price of its native cryptocurrency FTT and the broader market with our unique COIN360 cryptocurrency heatmap.

FTX Token (FTT) is the native token of the FTX cryptocurrency derivatives and spot exchange that allows token holders to avail a host of benefits while using the platform. As of writing, FTT has been issued on three major blockchains – Ethereum, BNB Chain and Solana. 

The token was launched in May 2019 by Sam Bankman-Fried and Gary Wang, and is issued by the FTX exchange. Sam Bankman-Fried is a well-known public personality owing to his multibillion-dollar portfolio and association with the Centre for Effective Altruism. An MIT graduate, Sam also founded and owns Alameda Research, a popular trading firm and one of the largest liquidity providers in the crypto industry that actively backs FTX. Gary Wang too is an MIT-alumni, besides being an accomplished software engineer.

FTX exchange is said to have been built by traders who understand the needs of the trading community. It claims to provide multiple innovative products including leveraged tokens, volatility products, options, futures and industry-first derivatives and is among the biggest buyers of traditional advertising spaces from within the crypto space.

FTT price

The FTT coin hit the ground running and quickly appreciated in value post its May 2019 launch. It rapidly breached $1 and broke out of the $2 resistance for good by late December 2019. Thereafter, it remained range bound within $2 to $3 till August of 2021, before making a gradual ascent towards $4 and subsequently $5 resistance levels by the year-end. It successfully crossed the $5 mark by late December 2020, and closed the year at $5.75 per token. 

However, the transformational FTT price surge was reserved for 2021, when catapulted by market-wide bullish forces, FTT coin rallied from $5.75 at the start of the year to reach $63 by May 10, 2021. Although it soon retraced to around $25 within the next two weeks, it never returned to its pre-2021 levels post that. After fluctuating between $25 and $35 for the next two months, FTT price in USD terms staged another rally starting in August 2021, marking the beginning of 2021’s second crypto bull run. This time the FTT price rose even higher and registered its all-time high of nearly $86 on Sept. 9, 2021, taking FTT’s fully diluted valuation well over $28 billion.

As per our FTT live price chart, a price correction followed and the coin closed 2021 at nearly $40. Staying firm despite plenty of bearish pressure, FTT price remained mostly above $40 till May 2022, but eventually gave in to bearish forces and has since receded to around $30 by Q3, 2022.

How FTT works

FTT tokens constitute the backbone of the FTX ecosystem. It’s a deflationary token that will be continuously burned until its maximum supply is reduced by half. One-third of all the fees collected on the FTX exchange are used for the repurchase of FTT from the market, which is then burnt and removed from the circulating supply. Around 20 million tokens have already been burnt this way, with FTT’s maximum supply down from 350 million to almost 330 million, as of writing.

Holding FTT tokens can earn you an FTX trading fee discount of up to 60%, and up to 0.02% on OTC services. It also qualifies you for weekly airdrops of Serum (SRM) tokens. High Rollers also get a chance to qualify as VIP traders who enjoy additional benefits including prioritized order executions. However, please note, the tokens must be held on the FTX exchange or OTC portal to avail the trading fee or OTC discounts, respectively. One can’t enjoy both the benefits with the same set of tokens.

FTT tokens can be staked too, to earn returns in the form of referral rewards of up to 40%, and increased airdrops of other tokens by up to 14%. FTT stakers enjoy up to 1,000 free daily withdrawals of ETH/ERC20 tokens (blockchain fee waiver) and can get up to 6 tickets to IEOs held on FTX as well. Maker fee rebates and up to 50 bonus votes for FTX polls are also up for grabs.

As FTT are issued on Ethereum, Solana and BNB Chain, they are secured by their respective blockchain networks.

FTT news, updates and highlights

According to a Financial Times story from April 2022, Goldman Sachs, a well-known Wall Street giant is reportedly seeking an alliance with FTX exchange, in an effort to take a stake in the latter. David Solomon, CEO, Goldman Sachs and Sam Bankman-Fried, Founder, FTX discussed multiple matters in a closed-door meeting in March, to figure out ways in which both companies could work together. FTX is reportedly seeking help regarding regulatory compliance in the US, particularly with the Commodity Futures Trading Commission (CFTC). Goldman Sachs also offered public listing assistance to the crypto exchange.

Thereafter in June 2022, the FTT DAO, an independent, community-driven decentralized autonomous organization (DAO) set up by the fans, friends and followers of the FTX token successfully raised $7 million for a fund that will reportedly benefit community-led projects in the crypto education and DeFi domains.

Frequently asked questions about FTT

  • Can you mine or stake FTT?

While it’s not possible to mine FTT tokens, you can stake them for multiple staking rewards and hold them for discounts across the FTX ecosystem.

  • What are some of the best FTT wallets?

Since FTT is issued on multiple blockchains, your choice of FTT wallet will depend on the network your token was issued on. That said, some of the best FTT wallets are: the native FTX wallet, MetaMask, Ledger, imToken and Freewallet.

  • What can you do with FTT?

FTT can be used to avail various benefits and discounts on the FTX exchange.

  • How to buy FTT?

The ideal way to buy FTT is directly on the FTX exchange, or through other exchange portals using fiat currency, or crypto coins like ETH, BTC, USDT, USDC and SOL

FTX Token Price1.4392 USD
Market Rank#77
Market Cap473,332,635 USD
24h Volume6,524,541 USD
Circulating Supply328,895,112.30 FTT
Max Supply352,170,015 FTT
Yesterday's Market Cap466,938,940 USD
Yesterday's Open / Close1.4253 USD / 1.4197 USD
Yesterday's High / Low1.4459 USD / 1.3867 USD
Yesterday's Change
0.00% ( 0.0056 USD )
Yesterday's Volume7,135,316 USD
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