Gary Wang: The Insurance Fund Balance Announced by FTX Is Generated by a Random Number Generator
On October 7th, according to BitMEX Research citing testimony from FTX co-founder Gary Wang, Wang stated that the insurance fund balance disclosed by FTX was generated by a random number generator and does not include FTT. Instead, it is just a number in US dollars. The numbers listed do not match those in the database and are actually calculated separately, with the real numbers being lower than the fake ones.
Bankrupt FTX Proposes Relaunch of FTX.com for Non-US Users, FTT Gains 17% Despite Plans To Cancel Claims
Bankrupt cryptocurrency exchange FTX has proposed a plan to relaunch its international arm, FTX.com, as an offshore exchange exclusive to non-US users. The announcement has caused FTT, the native token of the FTX exchange, to rise by 17%, despite plans to cancel all FTT claims due to their "equity-like characteristics." FTX intends to sort claimants into different pools, with customers of FTX.com being termed "Dotcom customers" and may choose to grant them some share of the company instead of conducting a full cash settlement. Talks of an FTX.com relaunch began in January, with discussions with potential investors starting in June.
FTX Japan Expands Team for FTX 2.0 Initiative as FTT Token Price Dips
FTX Japan is currently hiring new talent to support the FTX 2.0 initiative, which aims to develop cutting-edge technologies such as AI and non-custodial CEX trading.
FTT Price Rallies 131% in Two Weeks as New FTX Chief Plans Exchange's Revival
June 29 (Cointime) - FTT's price has surged over 33% due to news of FTX's potential revival plans. The current CEO of the bankrupt exchange, John J. Ray III, has set up a team to explore ways to restart the exchange.
FTT Price Surges on Positive Sentiment Around Potential Reopening of FTX Exchange
On Tuesday, the FTX Token price surged by over 12% to reach $1.16, following reports of efforts to reopen the collapsed crypto exchange FTX. The new CEO, John J. Ray III, has hinted at plans to restart operations, and recent court filings show that he has been working on a reboot proposal. The surge in FTT's price is likely due to positive sentiment around the potential reopening of FTX, as well as the overall green trend in the crypto market, with the top 10 cryptocurrencies all trading positively. While no definite timeline is in place, FTX's revival looks increasingly concrete.
FTT Token On a 8% Rockslide Despite FTX Ray Of Hope. Here’s Why
FTT Token, the native coin of the failed crypto exchange FTX, is experiencing a slide in today’s trading session. While it started the trading day negatively, it showed no recovery and further declined in price, recording up to an 8% loss and finding a spot in the top 3 losers in the sector.
