{"id":16500,"date":"2023-01-19T19:29:25","date_gmt":"2023-01-19T19:29:25","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/01\/19\/ftx-token-ftt-price-rises-30-as-ceo-john-j-ray-iii-plans-to-restart-exchange\/"},"modified":"2023-01-19T19:29:25","modified_gmt":"2023-01-19T19:29:25","slug":"ftx-token-ftt-price-rises-30-as-ceo-john-j-ray-iii-plans-to-restart-exchange","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/01\/19\/ftx-token-ftt-price-rises-30-as-ceo-john-j-ray-iii-plans-to-restart-exchange\/","title":{"rendered":"FTX Token (FTT) Price Rises 30% As CEO John J Ray III Plans To Restart Exchange"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>\n<iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/ftx-token-ftt-spikes-ceo-john-j-ray-iii-restart-exchange\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p>The worth of FTX\u2019s controversial FTT token elevated by greater than 33% after the newly appointed chief government officer of the bancrupt firm, <a href=\"https:\/\/coingape.com\/sbf-resigns-john-ray-iii-joins-as-new-ftx-ceo\/\">John J. Ray III<\/a>, acknowledged that he&#8217;s investigating the prospect of relaunching the <a href=\"https:\/\/coingape.com\/glossary\/crypto-exchange-2\/\" target=\"_blank\" rel=\"noopener\">crypto exchange<\/a>. The FTX Token\u2019s (FTT) worth hit $2.41 on the competing alternate Binance, which marks a acquire of 73% over the past seven days.<\/p>\n<h2>FTX Token (FTT) Price Surge<\/h2>\n<p>On Thursday, Ray, who&#8217;s supervising the chapter and restructuring of the FTX enterprise empire, acknowledged that he has put collectively a process staff to research the <a href=\"https:\/\/coingape.com\/new-ftx-ceo-john-j-ray-iii-plans-to-restart-crypto-exchange\/\" target=\"_blank\" rel=\"noopener\">possibility of relaunching FTX.com<\/a>. This data captured main headlines which in flip resulted within the worth uptick for the cryptocurrency. It\u2019s estimated that speculative buyers are at present in possession of the altcoin, as most severe buyers have misplaced religion after the <a href=\"https:\/\/coingape.com\/glossary\/centralized-cryptocurrency-exchanges-cex\/\">centralized exchange<\/a> filed for chapter within the <a href=\"https:\/\/coingape.com\/tag\/united-states\/\" target=\"_blank\" rel=\"noopener\">United States<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-136095\" alt=\"\" width=\"1120\" height=\"649\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/01\/20000124\/Screenshot-2023-01-20-000111.png\"\/><\/p>\n<p><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-136095\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/01\/20000124\/Screenshot-2023-01-20-000111.png\" alt=\"\" width=\"1120\" height=\"649\"\/><\/noscript><\/p>\n<p><em><strong>Read More:\u00a0<\/strong><a href=\"https:\/\/coingape.com\/defi-lending-platforms\/\">Check Out The Top 10 DeFi Lending Platforms Of 2023<\/a><\/em><\/p>\n<h2>FTT\u2019s Role In FTX Collapse<\/h2>\n<p>The downfall of <a href=\"https:\/\/coingape.com\/tag\/ftx\/\" target=\"_blank\" rel=\"noopener\">FTX<\/a> was precipitated by FTT in its most basic kind. The <a href=\"https:\/\/coingape.com\/glossary\/cryptocurrency-5\/\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a>, very like different native tokens, was utilized in half as an incentive to drive transactions to the alternate by offering reductions to its holders. This was completed in the identical approach as different native tokens like <a href=\"https:\/\/coingape.com\/tag\/binance-bnb-coin\/\" target=\"_blank\" rel=\"noopener\">BNB<\/a> for Binance and KCS for <a href=\"https:\/\/coingape.com\/tag\/kucoin\/\" target=\"_blank\" rel=\"noopener\">KuCoin<\/a>. However, using FTT didn\u2019t seem like an issue till it was found that not solely token was one of many major belongings that comprised FTX\u2019s stability sheet, but additionally the tokens had been used as collateral by <a href=\"https:\/\/coingape.com\/tag\/alameda-research\/\" target=\"_blank\" rel=\"noopener\">Alameda Research<\/a> \u2014 with a view to acquire entry to capital by each crypto lenders.<\/p>\n<p>FTT at present ranks because the 208th largest cryptocurrency with a <a href=\"https:\/\/coingape.com\/glossary\/market-capitalization\/#:~:text=The%20term%20market%20capitalization%20or,coin%20at%20any%20given%20time.\" target=\"_blank\" rel=\"noopener\">market cap<\/a> of $769 million which has seen a 28% acquire within the final 24 hours. The buying and selling for the token has additionally witnessed a surge in <a href=\"https:\/\/coinmarketcap.com\/currencies\/ftx-token\/\" target=\"_blank\" rel=\"noopener\">volume<\/a> because it\u2019s up by nearly 63% at $84 million; primarily led by the <a href=\"https:\/\/coingape.com\/glossary\/binance\/\" target=\"_blank\" rel=\"noopener\">Binance exchange<\/a>. However, even when the value of <a href=\"https:\/\/coingape.com\/tag\/ftt\/\" target=\"_blank\" rel=\"noopener\">FTT<\/a> has skyrocketed upon the optimistic information, the token remains to be down by nearly 97% from its all-time excessive of $84.18.<\/p>\n<p><em><strong>Also Read:<\/strong><b>\u00a0<\/b><a title=\"This Former Facebook Investor Sells Bitcoin After Holding 8 Years\" href=\"https:\/\/coingape.com\/former-facebook-investor-sells-bitcoin-worth-1-billion\/\" rel=\"bookmark\">This Former Facebook Investor Sells Bitcoin After Holding 8 Years<\/a><\/em><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA136093\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nPratik has been a crypto evangelist since 2016 &amp; been by nearly all that crypto has to supply. Be it the ICO increase, bear markets of 2018, Bitcoin halving to until now &#8211; he has seen all of it.\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/5cf0f64b0c7425fc4b6ea3fbbbde702c?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD136093\">\n<p> The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any accountability in your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/ftx-token-ftt-spikes-ceo-john-j-ray-iii-restart-exchange\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The worth of FTX\u2019s controversial FTT token elevated by greater than 33% after the newly appointed chief government officer of the bancrupt firm, John J. Ray III, acknowledged that he&#8217;s investigating the prospect of relaunching the crypto exchange. The FTX Token\u2019s (FTT) worth hit $2.41 on the competing alternate Binance, which marks a acquire 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