FTX token rises 47% after Sam Bankman-Fried’s tweet!

The native token of the disgraced stock market, FTX, wants to survive the debacle. In fact, today, December 9, FTX rose up to 47% after a possible fork and trading activation of the token, suggested by Sam Bankman-Fried (SBF).

As recorded by the various exchanges, on December 8, the TTF was trading above USD 1.4, while today the value has reached USD 2. Subsequently, the FTT fell back to USD 1.6, which is a net increase of about 10%.

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

On Twitter, the entrepreneur Ran Neuner suggested that TTF trading be resumed by reissuing the token (presumably suggesting a new fork). To this tweet, SBF responded that it would be “a productive path to explore“, suggesting that it might be a good idea to revive the FTT markets. This is in a context where, following the collapse of FTX, many exchanges have closed or reduced trading pairs on this token.

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

It is worth noting that from the time the first details of FTX’s financial situation were released until its subsequent bankruptcy, the FTT lost 90% of its value, falling from USD 25 in early November to a low of USD 1.4.

The FTT played a key role in the collapse of the exchange, as it was used as collateral for multi-million dollar loans, as the issuance and control of the exchange was entirely dependent on FTX.