FTT token rises by 44% after FTX relaunch proposal

CNBC’s host came up with the idea of reorganizing the trading platform and altcoin

09.12.2022 - 13:45

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2 min

What’s new? Ran Neuner, the host of CNBC’s Crypto Trader, has published a tweet proposing to restart the bankrupt FTX exchange, issue a new native token and distribute it to creditors and customers. Another of Neuner’s ideas is to distribute 100% of the profits of the relaunched trading platform to holders of the FTT token (FTX exchange’s token).

Fire up the FTX exchange. 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. — Ran Neuner (@cryptomanran) December 9, 2022

What else is known? Sam Bankman-Fried, the platform’s founder and former CEO, supported Neuner’s proposal and called it productive. He also expressed hope that the exchange’s current team will implement it.

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. — SBF (@SBF_FTX) December 9, 2022

Following the publication of the CNBC host’s proposal, the FTT token has risen by 44,36% momentarily, from $1,33 to $1,92. At the time of writing, the value of the asset is down slightly to $1,82 (CoinGecko’s data).

In November, the former head of FTX allowed the possibility of restoring the exchange’s activities. In a letter to former colleagues, Bankman-Fried said that despite the bankruptcy proceedings, he still believes a bailout of FTX is possible. He also wrote that he believed in potential investors while noting that he could not promise employees anything because it was not up to him.

Later in an interview with The Block, Bankman-Fried said that FTX’s new CEO, John J. Ray, and his team do not communicate with him, do not respond to any messages, and are not interested in what he has to say.

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