Ftx Token (FTT) Price

Info

Contract Address

ETH 0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9

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About Ftx Exchange (FTT)

FTT is the native cryptocurrency token of the now-defunct FTX cryptocurrency exchange, which was once one of the largest and most prominent trading platforms for digital assets. Launched in 2019 by Sam Bankman-Fried and the team behind Alameda Research, FTT was designed to be the backbone of the FTX ecosystem, offering numerous benefits to its holders and users on the platform.

The token’s primary use cases included trading fee discounts, collateral for futures positions, participation in token burns (where a portion of the supply was periodically destroyed to reduce circulation), and access to advanced trading features. FTT was also central to FTX’s broader financial products, such as leveraged tokens and prediction markets.

FTT gained significant traction during the cryptocurrency bull run of 2020–2021, reaching a peak market capitalization in the billions. It was widely held by investors and traders due to its integration with one of the industry’s leading exchanges.

However, in November 2022, FTX collapsed following revelations of mismanagement and misuse of customer funds. The exchange filed for bankruptcy, and the value of FTT plummeted dramatically, wiping out billions in investor value. Since then, FTT has become a cautionary symbol of the risks inherent in centralized crypto platforms and the need for transparency and regulatory oversight.

Despite its dramatic fall, FTT remains a topic of discussion in crypto circles as part of broader conversations around exchange tokens, governance, and the future of crypto regulation.