FTT token rises 17% after Sam Bankman-Fried is released on bail

FTT token rises 17% after Sam Bankman-Fried is released on bail

Author: Robert Strickland

FTT token rises 17% after Sam Bankman-Fried is released on bail
Despite the bankruptcy of crypto platform FTX, its native cryptocurrency continues to trade on major exchanges

The rate of the cryptocurrency exchange FTX's native token rose 17% overnight amid news that former exchange chief Sam Bankman-Fried was released on bail. As of 4 p.m. Moscow time, the FTT rate was hovering around the $1.04 mark, according to CoinGecko.

On the evening of December 22, the cryptocurrency price rose 30% in an hour and a half, from $0.85 to $1.12. This came just after news of Judge Gabriel Gorenstein's decision that the former exchange executive would be under house arrest at his parents' home in California while awaiting trial on the FTX collapse case.

Despite FTX's bankruptcy and litigation, the FTT token continues to be traded on major cryptocurrency exchanges such as Binance, Huobi, CoinEx, MEXC and many others. At the same time, many exchanges have removed some of the trading pairs with this cryptocurrency, leaving only one pair each. For example, at CoinEx in the section of the exchange spot services left only one trading pair with the coin exchange FTX: FTT/USDT.

The delisting of the token was also reported by other exchanges. Platform MEXC Global announced the removal of futures, margin trading pairs and other products from FTT on November 14. And as of November 15, the Binance platform removed trading pairs with FTX cryptocurrency token with the exception of the platform's BUSD Stablecoin trading pair.

-Digital euro payments will be handled by private banks

-NFT auction sales at Christie's are down 96% from last year

-EthereumPoW cryptocurrency rate is down 95% from its all-time high

-New Bitmain mining devices sold out in 27 seconds

-Binance will forcibly remove users' inactive API keys

"The bottom has not yet been reached." How the U.S. recession will affect the cryptocurrency market


Other news

Binance CEO Explains the Uniqueness of the Upcoming Bitcoin Halving
CryptoQuant reported record accumulation of bitcoins ahead of the halving.
We've sold everything. Expert names reasons for crypto market downturn
The losses of miners after the halving were estimated at $10 billion. Where does this figure come from?
Robert Kiyosaki cited reasons for not investing in Bitcoin via ETF.
Chapter Hut 8 CEO Discusses Banks' Interest in Buying Bitcoin from Miners