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FTX Token

FTX Token

FTT
#247
$0.2468Down 2.40 percent($0.01)

Key Stats

Market Cap$81.19MDown 2.40 percent
Volume (24h)$1.02M
Fully Diluted Value$81.19M
Vol/Mkt Cap (24h)1.26%
Total Supply328.90M FTT
Max Supply∞
Circulating Supply328.90M FTT
Launch Date2019-04-21
Built OnETH
Token StandardERC20
Smart Contract Address0x50d1…a4c9
Decimal Places18

FTX Token Information

Websites
ftx.comWhitepaper

FTX Token Price Converter

FTX TokenFTT
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Latest FTX Token News

View all
Sam Bankman-Fried's Sudden 'gm' Lifts FTT Token as FTX Set to Repay $1.6B
Negative

Sam Bankman-Fried's Sudden 'gm' Lifts FTT Token as FTX Set to Repay $1.6B

Negative

Binance's Potential Zcash Delisting Met With Dismay From Industry Heavyweights

Negative

The $LIBRA Debacle: Political Endorsements Are Driving Rug Pulls

Neutral

FTT Briefly Spikes After Sam Bankman-Fried Tweets for First Time in 2 Years

FTX Token Markets

View all
InstrumentExchangeBenchmark DataPrice24h Change
FTX TokenUSDT logo
FTT-USDT
FTTUSDT
binance logobinance
AA
0.2476USDT
-2.06%
FTX TokenUSDT logo
FTT-USDT
FTT-USDT
kucoin logokucoin
BB
0.2467USDT
-2.18%
FTX TokenUSDT logo
FTT-USDT
FTTUSDT
bybit logobybit
A
0.2466USDT
-2.22%
FTX TokenUSDT logo
FTT-USDT
FTT_USDT
gateio logogateio
A
0.2455USDT
-2.70%
FTX TokenETH logo
FTT-ETH
FTT_ETH
gateio logogateio
A
0.0₄8996ETH
-4.60%

FTX Token Supported Platforms

View all
Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
FTTERC20ETH0x50d1c9771902476076ecfc8b2a83ad6b9355a4c92019-04-21
RENFTTBEP20BNB0xB46b2c467950FF3c9012d5f3c1a975fa009a354d2021-11-26
RENFTTERC20FTM0xB46b2c467950FF3c9012d5f3c1a975fa009a354d2021-11-26
RENFTTERC20POL0xB46b2c467950FF3c9012d5f3c1a975fa009a354d2021-11-26
RENFTTERC20AVAX0xB46b2c467950FF3c9012d5f3c1a975fa009a354d2021-11-26

About FTX Token

FTX Token (FTT) was developed by the FTX derivatives exchange as a cryptocurrency token for various purposes within its ecosystem, including paying transaction fees, acting as collateral, and purchasing services. FTX, founded by Sam Bankman-Fried and Gary Wang, emerged as a prominent cryptocurrency derivatives exchange, offering an array of financial products such as futures, options, and leveraged tokens. However, the platform experienced a swift collapse in November 2022 following concerns over its financial stability and management practices, particularly regarding its heavy reliance on FTT and the solvency of its associated entity, Alameda Research. The unfolding of events, including a failed acquisition by Binance and subsequent bankruptcy filings, underscored the inherent risks and volatility within the cryptocurrency market.

Frequently Asked Questions

FTX Token (FTT) is a cryptocurrency token created by the FTX derivatives exchange. It is utilised for paying transaction fees, serving as collateral for margin trading, and purchasing products and services on the FTX platform. Despite the exchange's collapse, FTT aimed to provide holders with a share of the exchange’s revenue and to incentivise liquidity on the platform.

Originally, FTX was a leading cryptocurrency derivatives exchange offering futures, options, and leveraged tokens for trading. Founded by Alameda Research, a significant crypto market maker, it was designed to enable traders to speculate on the price movement of crypto assets. The platform's diverse range of financial products included options, derivatives, and leveraged tokens, tailored to assist traders in managing risk.

The collapse of FTX unfolded rapidly over a 10-day period in November 2022, triggered by a report revealing that Alameda Research's significant holdings were in FTT, the native token of FTX. This disclosure raised concerns about the undisclosed leverage and solvency of FTX and Alameda Research, leading to a crisis of confidence.

  • November 2: Concerns about FTX and Alameda Research's solvency emerged following revelations about their reliance on FTT as a major asset.
  • November 6: Binance announced its intention to sell approximately $530 million worth of FTT, precipitating a sharp decline in the token's value and a mass withdrawal of funds by investors, creating a liquidity crisis for FTX.
  • November 8: Binance's initial agreement to acquire FTX fell through amid revelations of mishandled customer funds and potential investigations by U.S. agencies.
  • November 11: FTX and its subsidiaries filed for bankruptcy, marking a significant event in the cryptocurrency sector.
  • November 14: BlockFi paused customer withdrawals due to its exposure to FTX, later filing for bankruptcy on November 28.

Recent statements and developments indicate ongoing efforts to address the aftermath of FTX's collapse, including discussions about potential repayments to customers and speculation about the exchange's future operations​​​​​​.

FTX was established by Sam Bankman-Fried and Gary Wang in May 2019, aiming to offer an advanced trading platform for cryptocurrencies. Despite its innovative approach and rapid growth, the exchange's fall illustrates the volatile and uncertain nature of the crypto market, compounded by issues of transparency and financial management.