FTT jumps 24% on former FTX customer complaints

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The native token of the FTX cryptocurrency alternate, FTT, is up greater than 24% over the previous 24 hours.

In response to CoinMarketCap, in simply 24 hours the FTT token has risen by 24.5%, reaching $3.45 on the time of writing. The coin’s market capitalization additionally elevated to $1.13 billion, with buying and selling volumes over the previous 24 hours rising by 133% to $96 million.

FTT jumps 24% on former FTX customer complaints - 1
Supply: CoinMarketCap

Notably, the sharp rise got here amid information that dozens of FTX purchasers have asked a U.S. chapter choose to cease the collapsed cryptocurrency alternate from utilizing 2022 costs to worth their cryptocurrency deposits.

They argue that by doing so, FTX is stopping its purchasers from benefiting from the restoration in cryptocurrency costs. Particularly, essentially the most distinguished cryptocurrencies owned by FTX purchasers—Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) — have seen vital will increase in worth since FTX’s chapter.

In December 2023, the alternate reached an settlement with collectors, and all of the hype surrounding FTX now revolves round its attainable relaunch. In the beginning of November 2023, the top of the U.S. Securities and Trade Fee (SEC), Gary Gensler, said that he’s not in opposition to the relaunch of FTX by the previous head of the NYSE if all the things is completed in line with the regulation.

FTX founder Sam Bankman-Fried was found guilty of seven counts of cash laundering, fraud, and conspiracy and faces a most penalty of 115 years in jail. Sentencing is scheduled for March 28, together with his attorneys anticipated to enchantment the decision.

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