Token of the bankrupt FTX exchange rises by 52% in a week

At the moment, one address controls more than half of the supply of the asset

13.01.2023 - 14:50

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What’s new? The token of the bankrupt FTX (FTT) cryptocurrency exchange is trading at $1,4, up by 52,32% in the past seven days. The value of FTT fell below $1,19 in December 2022 and did not rise above that level until January 9, 2023. The asset has a market capitalization of $453,97 million as of January 13, according to data from aggregator CoinMarketCap.

CoinMarketCap’s data

What other data is known? According to CoinCarp, one address controls 59,55% of FTT’s total supply. In addition, an unknown hacker owns 45,85 million exchange tokens, which is 13,94% of the total amount in circulation.

FTT is currently most actively traded on Binance, Mexc Global, KuCoin, Gate, and SushiSwap.

On December 9, FTT surged by 44% after a proposal to restart the exchange came from Ran Neuner, the host of CNBC’s Crypto Trader. At the time, the platform’s founder and former CEO Sam Bankman-Fried supported it and called it “productive.” After being extradited from the Bahamas to the US, Bankman-Fried was released on $250 million bail. At a January 4 hearing, he refused to plead guilty to fraud and theft of investor funds.

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