FTT

Hot_Difficulty6799

I suspect that if Larry David tried to claim, under penalty of perjury, that he was not using his fame to endorse the idea that FTX was safe, he'd be destroyed by the evidence. For example, that [he was paid in FTT tokens](https://www.independent.co.uk/arts-entertainment/tv/news/larry-david-crypto-super-bowl-advert-b2489141.html). The idea that David *wasn't* endorsing FTX in the ad, is outright sophistry.

DreadnaughtHamster

Exactly this. NO one knew. SBF and a few cronies were the only ones. This is laid out in the book Going Infinite. I was researching FTX as a potential place to put some crypto. Tons of people were. No one knew what was happening on the backend. That’s *specifically* why SBF is in prison: he kept it secret that he was turning USD > FTT token and then shuttling the FTT to Alameda and re-exchanging it for USD. He kept that secret from everyone. Don’t know what the feds are trying to do here.

Inthewirelain

Not too sure about that. Alto stablecoins are always doomed to a death loop, especially one linked to a stablecoins based high interest platform, and FTX probably couldn't have gotten it's overnight success without it's political dealings and other connections, even then only FTT kept them afloat. It wasn't that special of an exchange otherwise. I'm not too sure either of them have it in them to run a business long term.

AdamFitri2005

Might as well buy FTT and LUNC too

Salvashunned

I feel so fucking bad for you SBF. I buy FTT just to spite the gross legal system that fucked you over so hard.

Dark_Raiden_

SBF issued unregistered securities (FTT, SRM), engaged in insider trading to inflate their value so as to increase his potential loan collateral. He then took our customer deposits without their knowledge or consent, which his hedge fund gambled and lost on various investments. Once FTXs "assets" were exposed to be merely magic money FTT that he himself created, it started a bank run. Since they gambled away customer funds, their assets werent backed and FTX couldn't pay them out. That man deserves jail. I forgot what exactly Do Kwon did, but LUNA had more to it than the algorithm induced death spiral.

Sudden_Agent_345

tf is FTT

Fun_Cheesecake6312

FTX is never starting up again and if it did it would have a new token and not FTT

AsbestosDude

FTT lol cmon you know the answer to these questions

tenor_tymir

Put $100 in FTT and wait a week

downtownjj

1-'proof of stake' is too close to fiat. 2- there was a sizeable premine that turnes a lot of people off. 3- the monetary policy has been changed quite often. 4- code in not law. go look into ethereum classic for more details. and 5- most of the scams run on eth; FTT, Worldcoin, HEX, etc etc.

Alimakakos

I got a bunch of FTT tokens in FTX that I'm just ignoring until I retire

Kaspe1

I wander if he has big stash of FTT hidden somewhere

GettinWiggyWiddit

Doesn't help those of us who held FTT token and got fucked :(

DerpJungler

Im betting FTT will be pumping over the next few days as SBF's trial takes place

GMEthLoopring

I bet FTT goes up if he gets a light sentence lmao

igotquaids

Coinbase holds thr US market by thr balls, for that to happen coinbase would need to fuck up big time. IMO exchange tokens like CRO or FTT are ponzis.

DPSK7878

After FTT and FTX, I'm afraid to hold exchange tokens. Sold away my CRO and BNB.

Comicksands

FTT will pump to the heavens

DPSK7878

After FTT and FTX, im afraid to hold exchange tokens. Sold away my CRO and BNB.

gemino616

Bought cheap SOL and short FTT that day.

DreamMighty

8k FTT

hungryforitalianfood

FTT is up 20% this month.

7inky

FTT

Mordan

yep see FTX and their FTT scam token. They got owned. Let's have yet another amoral alt season where noobs can stripped naked of their cash for another dumb ass crap token from the Ethereum mothership of shit.

omniumoptimus

I don’t believe there were any outward signs. People will say things about the high interest and free things, but at the time, I warned people that returns aren’t free and was largely told to shut up (“spreading fud”)—but even those things didn’t point to imminent collapse. The problems these exchanges had were internal and invisible to the public. So, for instance, FTX would use customer funds but back debts with their own coins (I think they were called FTT). Again, this looks problematic now, but no one really said anything before the collapse. ALL EXCHANGES USE CUSTOMER FUNDS. That’s how crypto exchanges work. Essentially, you send your tokens to the exchange’s wallet, and the exchange credits you by changing some digital numbers in your account—but that crypto is no longer held by you. This is why all exchanges say, in their terms of use, that, in bankruptcy, you may not have access to your crypto (because it is not your crypto, but instead an asset of the exchange). All exchanges are fine to use. Put your crypto in, do your trades, then move your crypto out. That minimizes risk for everyone, even the exchange, since they’ll see they can’t rely on your crypto for funding other services.

Cengiz96

Yes, there was a trader Cryptokking on twitch who bought FTT big time 15 minutes before the news hit and where he lost 15k usd...I knew something is gonna happen (he lost so far 270k usd) live streaming 24/7 on twitch if you wanna check it out I shorted for 5k and made 5k

Citadel_Employee

Probably algorithms. They don't know anything about the coin they're buying. They just buy and sell because FTT may temporarily fall into the parameters that their algos are looking for.

rareinvoices

For now BCH whales seem eager to arbitrage, they receive paper BCH on Binace/OKX (they likely also receive some sort of financial incentive to do so) and give their actual BCH to spot exchanges. Or for a more sinister possibility, exchanges such as Binance and OKX, replace customer onchain assets with pieces of paper, and transfer the actual assets to other spot exchanges such as coinbase, who actually back user assets with the real thing. We saw this already with FTX replacing user assets with FTT. Of course they never repaid customers since they just declared bankruptcy when they got caught without their customers' assets when too many users clicked the withdraw button.

liquid_at

daytraders don't even need to know the name of the project, all they need is volatility. Most volume in the market does not care about crypto. They do not buy your project because it is great and they do not sell it because it sucks... they simply trade volatility using bots. If I can trade Safemoon and FTT back and forth for a profit, I'll do that. It does not matter that they are shit, because the FIAT I pull out of the trades is real.

JohnHue

It's not so much about the absolute price as it is about the market cap. CEL is relatively small (69m), what surprises me is that FTT's mcap is still 3/4th of a billion dollars... I guess a lot of people are still being used as exit liquidity for a few actors.

DowvoteMeThenBitch

My uncle is gambling his retirement portfolio on FTT. It’s wild.

Boring_Ad4003

Replace CEL and FTT with MOONS and you have your answer. MOONS is a dead project that people around here still hang on to.

Raj_UK

Have a look at a 3 year time span of LUNA & FTT to see coin destruction :( Condolences on all the losses ... In the crypto space things seem to occur orders of magnitude faster than tradfi Gainz are huge Losses are devastating Good luck everyone !

AdamFitri2005

It's interesting to see coins like FTT and LUNC still having fanbases lol

kingule1977

What is this FTT token ? It's down from past ATH really badly . Does it have any potential ?

awowow

everything and anything is tradable. DOGE, FTT and your mom

FiveEggHeads

Well well, more bullshit pumping of FTT.

RubensGalaxy

Safemoon and FTT

la_tortuga_de_fondo

What about people with FTT tokens, do they get them returned but now they are worth fuck all?

Sothisismylifehuh

People are still buying LUNA and FTT..

liquid_at

Understandable, but crypto exchanges have mostly opted for the "exchange token" route, by giving those who hold a large quantity of their native token discounts on fees. That was the primary reason for why people bought FTT. Subscription service would be good for you, but probably not the exchanges or they would offer it.

fluxxis

They should print more $FTT tokens. It baffles me that this is still a Top 100 coin.

Coldmami

Better then paying in FTT token as it was on ATH.

coinfeeds-bot

tldr; FTX, the bankrupt cryptocurrency exchange formerly run by Sam Bankman-Fried, announced during a court hearing that it expects to fully repay its customers. However, the exchange will not be restarting as it has abandoned efforts to find buyers for the platform. This news led to an 11% surge in the value of FTX's native token, FTT. Bankman-Fried was found guilty of misusing customer funds before the exchange's collapse in late 2022. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

PeterParkerUber

FTT

Putrid-Past-3366

You threw yourself to crypto reddit. You are going to catch a lot of the "Sounds like you're an idiot, cryptos not the place for idiots", just gotta let it roll off your shoulders and reassess your security protocols on all fronts. Those be the same peeps who bought DOGE at $0.60, ADA at $2.50, LUNA at $98, and we're throwing their life savings at FTT at $50+ Your money is long gone, there is no way to get it back. Buy a cold wallet, not Trezor or Ledger. I have a Jade and Ledger, but my Ledger has my moveable money.

hddps

Is now a good time to buy FTT?

SmoothGoing

>FTX had more assets than liabilities. Definitely not true. ~$6 billion of their assets was their own FTT token which was illiquid AF and was not worth shit.

ROBINHOODEATADIK2

So you’re saying my FTT tokens aren’t gonna moon ?? Damn I better cancel that pizza order

chuck_portis

If FTX had all their customers' assets in short term T Bills then it would not have been a story. Go look at their balance sheet. Once you get past the tens of billions of dollars they had marked in SRM, FTT, MAPS (their own shitcoins with virtually infinite supply, but <1% circulating volume), you'll see the real assets they had left. Most of the stuff with real value was private equity investment in early stage startups. Not exactly something you can sell on your brokerage account.

jps_

>Edit: all Tether token holders are fine receiving cash equivalents if Tether, for whatever reason, needs to pay out those assets and can't convert to cash. Sure. Just like FTT token holders are fine receiving their fraction of whatever assets FTX happened to hold. If the kaka hits the fan, folks not be fine.

BlubberWall

> Solana, Cardano, BNB, FTT ETH is the most likely next one to be approved. Maybe Sol and ADA at some point, but BNB will never. Dark horse candidate might be XRP as well, given it’s the only one to have a ruling about its commodity status go it’s way so far

Mistake_amI

I have been using Binance for many years and never had a problem. I have been moving some funds out to hot wallets, While my major stash is in Binance. The issues with CZ and Binance to me is a good news. That means they will less likely have issues with regulators. Whatever audits that needs to be done has been done. It makes Binance more safe. I was actually impressed that the SEC could not find any major issues unlike FTT and shows how well Binance is run. This is just my thought.

efadd

Weren't both FTX and Celsius using their customer's BTC to pump their in house exchange tokens? If that was indeed the case, then wouldn't they actually be suppressing the price of BTC, not pumping it? A FTX user deciding to buy some BTC is organic demand and obviously good for BTC, but not really price manipulation. FTX then taking that customer's BTC and pumping FTT certainly doesn't help BTC's price, and like hurts it depending on how they did it. LUNA arguably contributed to pumping BTC because they were actively buying it to hold as reserve, but even more so than FTX I'd argue they were the trigger that unmasked all the bullshit that had been going on. Ultimately though I think LUNA hurt BTC more than it helped due to the fact that their massive fraud kind of slammed the breaks on the bull market.

Cannister7

Yeah I never used FTX but I heard it was good. I set up Coinstats earlier. It's better than Accointing but still haven't been able to connect everything. I was listening to Coin Bureau the other day talking about FTX and how there was talk of it being sold to new owner and restarting. I was thinking about buying some FTT just in case but it was meant to be sold by the end of December and I couldn't find any news about it.

uwu2420

I don’t see BTC, ETH, LTC, USDC/USDT on that list, and instead such winners as Bitconnect, FTT, and Luna. I think it’s safe to say most people, even regular traders, are fine lol

NewChemistryPlanets

The problem is that FTT and FTX was masquerading as something else. Who cares if a meme token is advertised as such and people jump in knowing this?

NewChemistryPlanets

That is not the reason, unless you consider FTT a meme token.

etan1

Not sure about the legitimacy of the various balance sheets. But yes, even if its not the whole coin, what’s left of FTX should still be given back to customers. Solana went up 10x since the petition date that they are basing the debt on. What happens to that profit, if customers are only paid up to 100% of the bottom of the bear market? Why FTT at zero instead of at .25? There was no voting rights to FTX, its weird to treat it as an investor share? Token was used for perks, eg., free withdrawals, or higher chance to win IEO, and had value from a percentage from trading value being used for buyback+burn. All-in-all, time will tell which plan will be accepted.

etan1

It’s not the same. - Many coins are not just valued at the bottom of the bear market, but receive additional markdown. - The FTX claims are limited to a 100% payout of the bottom of the bear market, while there is much more money available. On MtGox all excess goes to creditors, nothing goes to investors. Every MtGox customer made > 10x profit, despite there having been a hack that deleted 80% of the BTC. In case of FTX, there was no hack and most money is still around thanks to some Alameda investments such as Anthropic. - In Celsius, CEL got valued at ~0.25, while here they propose to value FTT at ~0. - KYC is stricter in case of FTX, if not doing it in a short period after the next request to do so, the claim becomes worthless. Overall, its weird that FTX is treated completely different than CEL

njamimaranga

US govt dropping charges against ex - FTT Bankman the Fried Fraud and will no longer prosecute him. FTT was an insider job by the US government to use stolen funds for presidential campaign. FTT shitcoin to the moon. Pump and dump.

moldyjellybean

Back in 2021 there was a post on how to create your own on Token Jenny or something like that on Harmony One and using those instructions created a token and my friends bought and sold it. We bought and sold the same $200 and without knowing anything really the market was made to look like 6 figures. It just shows you how easily corrupt and how you can make nothing look like it’s got a good size market cap or TVL. Mind you we did this for fun spent a few days on it and starting from scratch. If someone who knew even a little more and spent more time they could scam a lot of people. I mean in March 2022 BTC was deep bear market yet some how they maniputeld BNB, Solana, Luna, FTT and many others to go up while BTC was going down. Shows you how easy it is and what a joke it is when BTC is nose diving, the entire stock market and assets are risk off and BNB Solana, Luna FTT are going to the moon

Ashamed_Moment_2477

Bullish on FTT?

njamimaranga

You do realize - investing in FTT means loosing your whole investment. The FTX bankruptcy proceedings are underway. The FTT token no longer has any use, and may be liquidated by the estate to pay creditors

awowow

why arent y'all buying FTT before it moons

awowow

my FTT stack is gonna make me so rich 🤑🤑🤑🤑🤑

Carbon_Beach

TRON, XVG, FTT, SAFEMOON, DADI, BEE, DOVU, DRGN… some of my favorite alts of the past… punch yourself in the face if you agree.

Pumpdumpsideways

Yeah FTT or Luna or safemoon shady

Staxu9900

I’m just glad that I never put too much into the worst of the MEME coins - XRP. How the fuk it’s market cap still holding? Then again LUNA and FTT have their rallies, I guess with their MC it’s ot a big deal.

hughescon

FTT and LUNA will moon. Trust me bro

MinimalGravitas

> You do everything but address the facts. Solana is up 4x in the last 2-3 months, so I’d say that’s a pretty massive increase over optimism in the same time frame. OP has literally [broken it's all time high today](https://www.coingecko.com/en/coins/optimism), so anyone who has ever bought it is in profit. Solana on the other hand needs to increase in price by another 150% before it comes close to it's previous ATH. You didn't like me comparing the weekly or monthly changes and instead cherry picked the particular range that makes SOL look best as if 'the last 2-3 months' is obviously the correct period to measure... and I honestly wonder if you are deluded enough to believe that, or if you are just intentionally trying to be manipulative? Either way, the fact remains that Solana is not even half way to it's ATH, whereas OP is smashing through it's ATH as I type this. But anyway, I'm not trying to get you to buy OP. From this conversation it's clear that you're the last type of person a project would want holding any governance power! Lets get back to picking apart your nonsense, as you clearly want to suggest that it is unrealistic to imagine that FTX or anyone could be artificially hyping up Solana and it's ecosystem, but the thing is if you'd been here a while you'd know that the story of Solana is a constant stream of manipulation and bullshit to hype up demand. In the context it seems entirely on brand for them to be pumping easily fakeable DeFi stats and marketing campaigns posing as retail interest... * When the chain launched in April 2020 the founders claimed that there were ~ 8 million circulating tokens, when in fact there were more than double that number. Then they said they would burn ~11 million that were with a market maker, but in fact only burned ~3 million from them and another 8 million from another previously undisclosed address: https://unboundedcapital.com/blog/the-solana-supply-controversy * Once it was running the Solana team bragged about how high their TPS were, until it was found out that 80-90% of these transactions are just internal consensus messages, not anything that any other chain would count as transactions, but intentionally bundled together to pump their metrics: https://cointelegraph.com/news/blockchains-like-solana-brag-about-tps-but-it-s-misleading * Also faked were the number of developers working on the chain (with developers working on multiple projects under different names), and the ecosystem's DeFi TVL, with protocols designed to interact in ways that counted the same assets multiple times to make the total look many times bigger than it really was. Please do read this article as it explains it really well, and I would absolutely love to read how you somehow find a way to pretend that it was entirely fine and legit... https://www.coindesk.com/layer2/2022/08/04/master-of-anons-how-a-crypto-developer-faked-a-defi-ecosystem/ * And then we get to the direct links between Solana and FTX, Solana's foundation were invested to the tune of $200 million in common stock shares and FTT token just before FTX collapsed, and FTX/Almada were holding more SOL than pretty much every other crypto asset on their books: https://www.coindesk.com/business/2022/11/14/solana-foundation-invested-in-ftx-held-millions-in-sam-bankman-fried-linked-cryptos-on-exchange/ > you chose to insinuate that the price appreciation happened to be a coincidence with ftx holding the blah blah blah…. Let’s not pay stupid, we’re both very aware that’s the insinuation you made. Surely you realize how ridiculous it sound I don't think it sounds ridiculous at all.

cubonelvl69

Now is the perfect time to stock up on FTT, LUNA, SFM

telejoshi

Safemoon, LUNA, Worldcoin (already pumped), FTT, BitcoinSV, all meme coins

SilasX

FTT tokens rallied like 400% in the last month from idiots that think FTX will restart and return to the old policies of FTT buybacks. Narrator: they won’t.

DA-FUNK-5555

And it pumped eventually after the bottom..... FTT also....

Hungry-Class9806

Different situations. People who still hold LUNC are the same ones who keep buying FTT: Degens hoping for a moonshot to sell. They don't care about Do Kwon or SBF or have any emotional attachments to the token because, mostly, they bought in after the FTX and Terra collapses. But with Safemoon, you see a lot of people emotionally invested in the token, mostly because it gives them a sense of belonging (they even call themselves "family" FFS)

Hungry-Class9806

Also FTT went up 300% in the last 2 months.

ArachnidCertain9707

FTT had more activity last month lmao. Check that bish did a 500% lmao

Courimis

Do your research and understand the risks behind each project. Luna and FTT were very hot last cycle and everyone including very high profile figures were shilling them. One supposedly smart institutional investor got a Luna tattoo… But in reality both were heavily centralized and propped up with leverage… VCs are not your friends, they see retail investors as exit liquidity… I personally avoid coins that have very high VC / Insider / Team ownership. They all end up the same way in the end.

SilasX

It's very unlikely they'll return to the old policy with FTT. Bankruptcy involves courts authorizing the cancellation of debts. Bondholders usually get some money back, sure. But FTT wasn't even a registered security, and had no binding contract obligating them to do the regular buybacks from profits in the first place. It has zero status in bankruptcy court.

soundingdemo

I actually bought FTT recently. Why? Because I know the market has turned into a meme casino. I know it's a trash coin and I suspect most of the bigger buyers do too. But like me they are playing a game. I don't even consider it gambling because the odds are in my favor as long as BTC pumps. Maybe there are some who think FTX will come back but they would be the dumb money.

countjah

I think with FTT something is going on. I had an alert 2 days ago of a 3.1Million usd fat finger whale buy. Why? Who knows

Ashamed_Moment_2477

Why that. If FTX is reopened and if they use FTT as a token, the pumps are more than legit in hindsight

Staxu9900

Oh, this are the coins from Reddit, I can’t access my vault, I mean I can but it’s always empty. And moons are way more valuable then FTT in this case.

EvilLost

Because people are stupid. Why is FTT actually recovering? Because people are REALLY stupid.

Turnipsia

It's very easy to pump and dump dead coins with no real benefit. Meme coins have a bit of activity but cannot be pump and dumped because whales have bought shit tons for the memes/fun and will dump soon as the price spikes. These dogshit coins on the other hand like FTT and LUNC... Nobody with real money would invest in that shit. So there are creatures of the night that congregate in discords and basically buy up these dog shit coins with low volume for very cheap. Then they inflate the prices to something like 200%. The low IQ slot machine addicted cryptobros see the 200% and attempt to buy some coins. Once there is enough volume of people attempting to buy these coins. The discord ringleaders will initiate the dump after they realize the amount of volume buying is enough to dump all their coins for a nice profit. Everyone in discord will panic sell. Those low IQ slot machine addicted cryptobros will wake up with their buy orders filled with dogshit coins they paid too much for. source: I was one of those low IQ cryptobros who learnt the hard way.

kakumei88

FTT is traded because of speculation of a reboot under new leadership (Tom Farley).

SouthJazz1010

True, I wouldn't consider Bitcoin and not maybe even ETH as gambling, but it's a serious investment. FTT is just for degenerates and bag holders, complete scams obviously.. It's a legit question, why would exchanges still list proven scams tokens, the answer is greed and exchanges like Binance are definitely a scam..

josef3110

CRO is a so called exchange coin. This has several consequences. Its tokenomics is totally controlled by [crypto.com](https://crypto.com). It's chain does not scale and is controlled by the exchange as well. In principle it works the same way FTT did for FTX. I suggest that you get out as quickly as possible. It is not the typical crpyto investment like BTC, ETH, or ADA. It works only to make cdc more money and has no benefits to their customers. That's the reason why cdc lured their customers into it with additional benefits. The same is true for BNB, OKB, FTT, etc. Btw., just as add. info FTT still has a market cap beyond 1B$.

AromaticGust

Can they pay it with FTT tokens 🤣

Zoenboen

lol, you compared FTT to SOL? SOL haters are modern marvels.

NYCPATRICK

nice pump and dump project. It's funny that FTT has been pumping also. Amazing, a dead, Ponzi scheme can still pump.

Ashamed_Moment_2477

Watching the FTX auction this week. FTT rising due to the rumours

13Robson

On a sidenote, "On November 2, 2022, Coindesk leaks Alameda Balance Sheet with an alarming $6B in FTT, which is your friendly reminder to not buy/hold exchange tokens." I agree. I never understood exchange token's value, other that locking outside money in and allowing the exchange tp do whatever with it. Same with tokens like TWL (Trust Wallet token) yet people keep hoping for a Metamask token. Why? Sure it gives a boost in money for Metamask to use for development, but down the road it just becomes another potental pitfall. Or is my whole view on this bad?

igadjeed

Binance is a private company. Their financial reports are not mandatory, and may include fabricated valuations for their fabricated in-house coins. False valuation of FTT was a big component of FTX's failure > 9580 billion dollar trading volume for binance in 2021 If true, a raw estimate of income can be derived from their 0.1% trading fee Unfortunately, it is public knowledge that Binance's trading volume was deliberately inflated by wash trading. There's an anecdote in the Michael Lewis book describing Binance's wash trading bot being front-run by a bot written by FTX, causing Binance's bot to pay higher prices to FTX's bot instead of buying from its own bot. There's no 0.1% fee earned by wash trading

serjjj89

Man,if FTT survived...

SouthJazz1010

>There's no organization or an individual who actively promoted Bitcoin That's an anecdote, which is fine, I would say Bitcoin doesn't need promotion, during the rallies after each halving event media is all over Bitcoin, first time I ever heard any stranger talking about Bitcoin was 2017 and she asked me if seen how much Bitcoin gained. I personally had to look up Binance myself was just searching for exchange with low fees because I was tired in my local exchange. Over to facts Binance promotes a lot of garbage like FTT, LUNA and other rug pulls all a disservice to Bitcoin. >Blackrock BTC spot ETF filing. I'm not a Blackrock fanboy but they are doing more to promote Bitcoin than Binance, ETF gives BTC more legitimatecy. You can just store your Bitcoin in a non-custodial way or trade on e.g. Coinbase a lot of other alternatives if you don't want to use ETF. Mossad might kill CZ in the future, they are old fashioned.. CZ would be like a James Bond movie villain if it wasn't for laundry child pornography funds that he pleaded guilty to, what a freak!

Kristkind

FTT 2.0

OMFGROFLMAO2

Exactly, pump it up before liquidating, why do you think FTT is up 500% in the last couple of days? Liquidation incoming