A community dedicated to FTT, the native token of cryptocurrency exchange FTX, has raised $7 million (250,000 FTT), which will be converted into an ecosystem fund, according to a press release.
- The fund will contribute to community-led projects across decentralized finance (DeFi) and crypto education.
- "I'm aware of FTT DAO, and it's cool that the community is spontaneously coming together," Bankman-Fried said in the statement.
- In the statement, the DAO said its members are "Bankman-Fried fans/followers/friends. We share the same values as SBF (Sam Bankman-Fried) and support his mission to give back to society in order to make a positive impact on our world."
- The FTT token was issued in 2019 as a cryptocurrency that gave FTX users discounted fees, increased affiliate revenue and access to initial exchange offerings (IEOs).
- FTT was recently trading at $27.64, down 2.4% over the past 24 hours.
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