Failed exchange FTX token up 52% in a week – Cryptonium News

Failed exchange FTX token up 52% in a week

What’s up? Tokens on bankrupt virtual currency exchange FTX (FTT) are trading at $1.4 after rising 52.32% over the past seven days; FTT fell below $1.19 in December 2022 and did not surpass that level until January 9, 2023. According to data from aggregator CoinMarketCap, the asset’s market capitalization was $453.97 million as of January 13.

What other data is known? According to CoinCarp, one address controls 59.55% of the total FTT supply. In addition, an unknown hacker is in possession of 4,585,000 exchange tokens, which is 13.94% of the total number in circulation.

FTT is currently most actively traded on Binance, Mexc Global, KuCoin, Gate, and SushiSwap.
On December 9, FTT rose 44% after CNBC editor Ran Neuner proposed reopening the exchange. The platform’s founder and former head, Sam Bankman Fried, supported it at the time, calling it “prolific.” After extradition from the Bahamas to the U.S., Bankman-Fried was released on $250 million bail; at a Jan. 4 hearing, he refused to plead guilty to fraud and theft of investor funds. All results could not be downloaded. Retry…