Bitcoin Forum

hi ,
my brother like most of Americans invested in FTT , what do you feel the future of FTT now ? Will it die a slow death ?

the current marketcap is $400 million. Do you think that the token of a dead, insolvent exchange that cheated its users by secretly investing their funds in high-risk instruments should be valued at almost $0.5 billion? Of course death. It's strange that something like "slow death" is being considered at all. It should be an instantaneous drop to zero.

The fact that ftt is dying slowly makes me see the slightest chance that someone is planning some huge scam and the price will rebound (someone is buing holding price), but I wouldn't bet even $1 of my money on it and I would advise your brother to sell it.

$400 million is the same as the capitalization of KCS, the kucoin exchange token. A functioning exchange that is quite trusted and battle-tested - was hacked for $300 million (one of the largest hacks in the history of crypto), and still managed to cope. Kucoin was working with the developers of all the stolen tokens, asking them to fork and freeze the hacker's wallet. Kucoin recovered some of the funds and had the rest insured. Not a single customer lost a dollar.

KCS marketcap = FTT marketcap HOW!?

I wonder why you said that most Americans invested in FTT. I don't think that there is any future for this token, I thought it should be obvious. Have you seen LUNA? It has a bit similar story.

This was FTX's token, right?

I guess that you have already an idea on what's going to be the fate of this token. I'm not sure why it is still getting millions of volume despite the controversy of what the former owner of it has done to their customers.

Are you interested on this token OP? If you are, please make sure that you invest somewhere else your money and you're not going to invest on this token because whether the new management tries to revive it, it's only a matter of time until it's forgotten and will be out of the market.

why should smaller investors who invest hard earned money in the cryptos suffer due to greed of filthy rich crypto whales , its just like these whales are new government , satoshi nakamato had started bitcoin just to prevent people from losing money from failing banks in year 2008 depression , but looks like nature has found its own way for the cycle to complete.

This is all correct, but another option should be considered, that FTX will be able to restart. And if the new team really succeeds, then you can be sure that the value of the exchange coin can greatly increase. So maybe now we have a good opportunity to buy some FTT.

Instead of looking forward to the opportunity it brings that comes with risks, why not look for other cryptocurrencies to find better opportunities. I personally view FTT as a thing of the past although it will probably still have its supporters and FOMO every time there is new favorable news but overall it still has a lot of potential to lose money. To say it is dead is completely wrong, but can trust be rebuilt after so many problems have occurred? Its collapse has already been exposed, so there's no need to get too involved with it. They still have a lot of things to do if they want to come back. In the immediate future, they need to resolve legal issues, lawsuits, and assets lost users on FTX.

Maybe because they deserved it and aren't doing due diligence. Specifically for FTX cases, they aren't greedy but simply swindle the money. That aint greed, but pure criminals.

And you are here comparing the wrong things. Bitcoin was built purely decentralized way, you cannot compare it with cases such as FTX. Now, back to OP, FTT has something to do with the embezzlement of the funds, so there won't be any future. Some recent news FTX wants to restart its exchange, but I believe even if it happens, they won't gain traction.

Even though the market capitalization is the same as KCS, will customers still trust FTT?
Seeing how FTT was turned into trash by all its users after they were betrayed by the thieving CEO.
Dark past, but I will never get into Exchanges or FTT coins, there are still many that have better potential such as BNB, ETH let alone BTC.
Rather than choosing a coin that is still unclear about its future, it is better to choose one that is certain, which is not a nest of fraudsters.

Or it might be a good opportunity to waste your money. I mean, if you're not scared to lose it you can buy some. But FTX lost the trust of people. Most likely it won't recover. Too big a dirty spot on the reputation.

Well if you knew its history then you might pick another token or project to linger around. Isnt that ftt is alreadt dead but a lot of users have failed or lost money with that and some also gained a lot from it. I think its better to look for a new one to have a better start of an investment which you could monitor. You dont want to invest on a project with bad history of its founder.

That's not all small investors, and not only small investors who have to learn from losses.

So that's the most important thing that small investors need to know, only bitcoin was created and has managed to maintain its credibility as the most independent currency. For the rest, someone wouldn't create an altcoin without a profit initiative. I have nothing against anyone liking altcoins as long as they provide fair returns, not unreasonable ones.

I have to say that $FTT will die slowly, my statement isn't unreasonable, even though $FTT still exists today, but can people still believe in this token with all the chaos that has occurred? Don't invest in this token, because even if one day the price of $FTT rises, it won't last long (maybe it's just a pump event), fundamentally $FTT has been destroyed, that's all.

You can lose your money without even buying FTT, but choosing any other altcoin as an investment. Because there is no guaranteed profit in the cryptocurrency market. But by investing in FTT, you will have more chances to get a big profit than by investing in another altcoin, since the chance of restarting FTX is very high.

there are possibilities that FTT could gets revived consdering there are rumour that FTX might restart their services, but honestly this ftt token has really huge chance to be just abandoned like that.
right now its slowly dying, on its way to get delisted. even though the market capital might seem big, but what use if the value plummet.
the all time high is $85, now its just about $1.5, too much losing its value along the way.
personally i would never invest into this coin, there's just no future, but some people might bet on the fact that FTX might restart their service and thinks ftt would gets the benefit.

Don't you think it would be better for them to start with a completely new exchange? Why drag along the baggage of such negative associations? They defrauded people and deprived them of their funds during the bear market bottom. If someone had $100,000 there and planned to buy BTC @ around $20k, today they would have $75,000 in profit alone, which FTX deprived them of. even if they give back what they stole, they will not give back the "potentially lost benefits". people have already had their funds blocked for a year. This is damage that cannot be swept under the rug. This stock exchange will not recover and 400 mln $ marketcap is way to much for such a swamp.

FTT is the FTX token that is now bankrupt and the former owner of FTX is being tried in a US court.

The capitalized volume of FTT is now still above $400 million and the price is above $1.2, not sure about this token but we are sure that the product value of this token is dead because now FTX is closed and many customers have suffered losses.

Never be interested in this FTT token, better to avoid choose one of the respected altcoins rather than FTT which is not so clear because of last year's bankruptcy.

Regarding with FTT is token or coins platform from FTX exchange I don't sure with worth investment in the future, depend if your brother have reached few profit trough FTT better sell it and looking other opportunity with altcoin investment. FTX have bee collapse and there are not guarantee with FTX exchange will refund their user fund I think too brave for holding or investing with FTT coins. They have not any back up or supported how to make FTT will raise to higher price in the future although still list on many top exchange with current marketcap is $400 million.

Suggest to your brother, if loss few percent better cut loss before bad thing happen with the FTX exchange token will delist on exchange market due they haven't positive respond with their exchange will return operation or not.

It will be one of those that takes for ages to die.  It will probably pump several times like a half life zombie token and get people excited and hyped, because percentually those will look high numbers. And rumors of FTX revival circle around. None of them will be true for obvious reasons. FTX is a tainted name synonymous to fail. No one serious would touch to any of that.

And obviously FTT will go even lower after that. And then there will be a time when no CEX even want it because volume will dry out.

Then some people will dca it insane amounts and pump and dump it on some dex, because those are only ones left to trade it.
That's how i see it playing out.

It's still remain uncertain at this moment. I can't say whether FTX will be rebooted or not but the chance is still there.

https://news.bitcoin.com/ftx-debtors-evaluate-bids-for-dormant-crypto-exchanges-revival/

That news said that various parties were interesting to rebooting FTX exchange site. FTX had also become the second largest exchange site last year. Some parties were also seeing it as an opportunity to revived it again.
The price of FTT will be so stable till there will be a good news that will be coming from FTX. The relaunch of FTT will obviously pump FTT back again at the top.

There are still ongoing negotiations to recover FTX. I hope all will be going so well. FTT investors could get what they deserved back again.

I don't know how you come up with a claim that most of Americans invested in FTT. I can't imagine a reason why people would still continue to trust a token that is created by an exchange that fooled a lot of people and stole tens of billions of people's money. I can't even understand why this FTT shitcoin still has value. It should already be zero. I know there are powerful people behind this manipulating the price of this shitcoin, trying to keep it afloat. I know this is isn't anymore under the control of SBF but it remains to be a shitcoin. Avoid it.

For me, FTT will become just like other altcoins that experienced some bankruptcy or any issues with the government.
Some of these altcoins could be used for some pumps and dumps, the best example is for the altcoin token of Luna before.

For me, if a project has some issue like this, it isn't easy to regain the people's trust. So for me, it's a no, not to trust anymore again.

Well, FTT didn't experience just bankruptcy, its CEO scammed people for millions. It's hard to bring attention to the project after something like that. LUNA wasn't able to do that, and I don't believe in FTT.

I don't know where you gathered the data that most Americans invested in FTT. Many traders and investors are avoiding that coin. As far as I know, FTT has no use anymore. It was created mainly to use in FTX, but as we all know, FTX does not exist anymore. It only means that FTT will no longer needed and only exist for trading.

We all know what happened to that crypto exchanger. They don't just simply shut their business down but they are also involved in different anomalies. I think that was enough to not hold on to any of their creations anymore because it will definitely have a bad future. There are still lots of great cryptos out there with a clean reputation so why should one stick on FTT?

Even if they state a reason on why people should keep on rooting for the coin, I still don't think that lots of people will follow. I think one mistake is enough. We shouldn't let the abusers to keep on abusing us because this is where they will get motivated to continue.

FTT is worthless See how Bed Bath and Beyond stock was made useless and delisted? Well, for FTX, as it is bankrupt now, the FTT token is worth even less than its stock. Even in the remote scenario that FTX is up and running again as part of the bankruptcy compensation, it's very likely that the FTT token would be scrapped as it would be considered a security.

its now on the same level as the shitcoins in general, its just useless and people holding onto it are definitely those kind of people that already investing too much and don't wanna move on.
from the perspective of someone who still use logic, i would definitely avoid this coin, cryptocurrency is having too much good coin out there that investing in FTT is simply just wasting money.
the emergence of L0 which layerzero, added with the fact that exchange token like binance are performing really well because the company behind it are not some shady scammy company.
there are just many options out there and I only get baffled by the fact that people would still choose FTT for investment, I guess they don't really love their money.

2 weeks have passed, my assumption has been confirmed: "The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law - https://cointelegraph.com/news/sec-gary-gensler-hints-open-ftx-crypto-reboot And the market immediately reacted to Gary Gensler's words, the value of FTT has increased by 100% over the past day.

Wow. Unbelievable that he actually said that?!

There were backdoors in the code and it is now probably all owned by the courts too. I can't believe that those who went along with making those changes can be trusted to not do further mischief. These people who are bidding to buy the brand equity and relaunch are possibly looking to profit from the pump that would result based on speculation. Who knows one of those three interested parties may already have done it.

The SEC chair giving this statement may also be part of the plan.

I mean why would anyone trust FTX as a brand again. Did ENRON relaunch and had a field day being run by "leadership within bounds of law"?

Many are still trap from this and they are just hoping that one day it will rise again.
How can an exchange token rise again if the exchange itself was dead already? This is dead end for FTT and sooner or later it will lose its value. If you are still holding this and lose almost all your capital, you can’t do anything about it aside from hoping from a miracle, FTT is too risky to deal right now.

As long as traders can still speculate with FTT, I think the price will do just fine. These days, the price goes up when there's any positive update over the course of the FTX court proceedings which is as expected. Since the price didn't get leveled down at zero when the news about the collapse was red hot, I don't think it's going to do so anytime soon especially now that the new management of the exchange is looking to restart operations.

Earlier yesterday I brought up this information in my local board but found it not useful to me in anyways, here I still found same information. But all I have to say is FTT token might be of good use to to some people if only it can regain it's Glory back. Although the current pump of FTT token might look promising but  Predicting if this will be a success after several months of price failure.

Market was giving reaction to the news consider FTT has become one of largetst exchange site in the past and then there's no doubt if people would be hyping it.

People are always judging FTT was a scam. The chance for FTT to go to the moon again is still there. There have been many parties are showing their interest to reboot this exchange site again and i do like that.

I have secured my FTT when the price was around 1.5 and it keeps going even higher than before. FTT is a good token as long as its exchange site will be rebooted. FTT is still trading at the bottom this time.

People are always calling this a trap, dead token without even following the development of FTT process to be rebooted.

true, the revival of ftx even somewhat gets approval from the authorities since its all gonna fall under new management anyway, its definitely gonna be rally for ftt in the long run for its platform gets revived again but also need to watch out, new management means sometime new revolutionary thing, god knows if they have plan to abandon ftt altogether since they can't bear the responsibility of mantaining that coin anyway since they are reviving the platform and also already shelling out so much money for it.
there is always possibility that they gonna building the system from scratch and might just outright ignore ftt, we still don't know how things gonna be but its better to know that no clear decision have been made, only if they are confirmed that they gonna recognize ftt that its gonna be safe to invest in ftt though the coin itself already climbing up in price.

TBH, I thought that the project would be long gone after what happened to them. I didn't expect that somebody will act as another CEO, and will try to save the project in John J. Ray III.

Will it be the same again as what it was at first? Obviously no. Will the trust of the investors be regained after what happened? Probably because it seems like there are still investors who are investing in FTT tokens for some unknown reasons. It's kind of stupid that they tried to scam you, but you still choose to trust them because... I don't know. Probably some might not know the past of the project, and they just invested into it blindly.

Future of the token, and the project? It will slowly die I guess. What happened in Terra Luna, and FTX are different, but both projects became very unpopular now after what happened to them. Both of them still have community though even though they tried to scam their investors which is for me, very absurd and ridiculous. I will not touch this project, and it's a good thing that I didn't touch it because I'm thinking of doing it a few years ago when it's still at it's peak.

Yeah, I thought that too. But I still think most people won't trust them again. Trying to gain new users is the only way to stay alive for them now.

It's very much correct that FTT has absolutely no value at the moment but still some people continue to speculate on it for some reason.
It doesn't seem to make any sense at all to be honest but perhaps some people expect FTT to be favored in some way by bankruptcy court? Still that's not realistic. There's a ton of other priority claims and having bought the coin on the open market doesn't change any claimant's position. So yes, sooner or later it will go to 0.

Something is cooking up again and I am in utter disbelief that the trading volume of FTT is trending around $267 Million in Binance alone, noobs has started investing into it once again as it has seen an increase of more than 200% in last two days thus investors have started to blindly invest into it and I just wish this doesn't end like Luna where people were investing even after the coin was dumped and almost equal to zero just to earn some quick money during the price rebound which happens before completely going dead and people lost a huge amount. I just hope they don't repeat the same thing all over and it's frustrating to see how can people invest in something which is a dead coin and it's a mix of sheer greed and lack of knowledge which are the reason why people are still investing into this coin.

People with greed just thinks that this coin will at least reach 10% of what it was before debacle and people who are new to crypto don't just look at the recent price increase and invest without investigation or doing any analysis about the coin. I would never invest in this ever again.

There is no future for this coin it's just one more betrayal awaiting for users when the least expect it.

The cryptocurrency market is so arranged that most coins have no value, but this does not prevent them from pumping from time to time. So you can consider FTT meme coin that has no value, but nevertheless you cannot deny the fact that this coin brought its investors 200% in a couple of days.

Ah yes, you got it. The thing is, the current FTT tokenomics is messed up because of the handling of operations by the previous administration of the exchange but that can easily be mitigated if the new team chooses to launch a new token. I won't be surprised if that's the path they take and certainly won't be surprised if the new token ends getting pumped to the outer stratosphere. This new token narrative is very likely imo.

All dead projects pumps. Gas pumped 10x in last month (yeah this GAS from NEO project - ETH killer from 2017 that died in 2019 and no one is using it). Same with ZRX, LUNA and many more. FTT is only one of many projects that pumps only to create exit liquidity for whales. SBF is connected with democrats (one of the biggest donors). I think this news is created to help SBF manipulate the market  and get few more millions from shitcoin investors before it all goes to 0.

I don't think that SBF in its current position can manipulate the crypto market. After the jury found Sam Bankman-Fried guilty, the only thing he should care about is what sentence will be handed down by the judge in March 2024. But even now it is obvious that he will be on state support until the end of his life.

do you think the price rise of SOL will help ftx bailout ? , since ftx and its founders were holding huge sol

The market can move in any direction and we might be making a big mistake if the project team are really working to restore the token and investors are busy waiting for when the price would move before they buy again looking at there previous mistake that had made them to lose severely.

 The market can dance to any music at anytime so we just have to observe if we are ready to invest in it again. I believe that the team would be very proactive this time and would want to send the poeject to the moon so that investors would have interest and be confident to invest in it again.

The first thing you need to consider is that how much rise have Solo done that can guarantee it as a bailout for the mess that the FTX sega created for the token market, this is what you should consider before making any possible stand in that direction, the solo will continue to struggle back and forth and if care is not taken it may even plug below it lowest price when that crisis happened.


The recent market rise is not in connection to any strong liquidity progress or positive news, but just a reflection of its wave along bitcoin market trends and that is what is happening in this case.

quite literally right now FTT suddenly dumps, kinda obvious that its just pump and dump game yet so many people are willing to shell out money to try their luck in this shitcoin while its not about luck but about how whales gonna manipulate the market.
even CMC has given some warning in regard of anyone that invests in FTT should be careful since this token might get liquidated by the estate. yet right now it suddenly dumps.
can't imagine how many people have yet lost again some amount of money around peak of ftt, but i can be sure that this thing gonna get repeated few times just to trap some newbies into investing.
after all you can't be investing into some dead shitcoin thats supposed to have utility by the exchange, yet the exchange itself is nowhere to be seen.

I thought FTX was dead when the owner of FTX bankrupted the FTX exchange. FTT was essentially dead after the bankruptcy. But now in various news FTX owner will rebuild this FTX with all his assets due to which FTX started to rise again. But as it is still in good position I don't think this FTT will die later. I think this FTT price will recover and move back to previous positions. Currently FTT Price is $3.42 (-18.02%)

My personal initiative is to buy some FTT and invest for a long time I hope FTT recovers its price movement one day.

Why linger on a project that have failed and lost value and integrity once, so what if the same thing happens again, then who is to blame? I think that we should not  limit our selves to FTT, where there are credible options in the market. Crypto investments are risky because any particular coin can become worthless in the market and it's investors will bear the loses, it is sad that even popular coins and exchanges can fail, like in the case of FTX. Even if they're revived, it'll be hard to attain a trust level again. This is why I've limited my self to only bitcoin and binance, they have my trust rating any day.

it doesn't have to be him in person. There is a lot of talk about his political connections, there are some big fish behind him who continue to play the fate of the token. Certainly, a 400% pump in a few days to capitalization of $1.5 billion on the token of a scammer exchange that has deceived customers and has not made their funds available to them for a year is not normal. From a distance you can see the manipulation on the chart. Keeping support at $1 for a year, not delisting FTT on the largest exchanges despite the collapse of the exchange (the only reason for the existence of the FTT) and the arrest of the CEO. The culmination of the manipulation is the current pump. its dynamics and the general market environment, where dead projects mainly pumps (gas as example).

I still wonder why this token price is not zero yet after what happens with its founder and exchange. I saw news that FTX is thinking about relaunching, but the question is who is going to use that exchange again? I don't think people will trust that exchange any more even if it comes with better service. Just look at what happens with Luna and UST. Just think about where they were and where they are now. They lose the hype, trust and interest even though Terra luna blockchain infrastructure is still one of the best in the industry.

There are so many news stories happening in the crypto space and investors have lots of options. So why would they risk their funds on something that has already failed before? What new happens with that project that investors can trust again? If they plan to launch FTX and FTT again this will challenge Binance. I don't think they have any interest in providing quality service or care about their customers funds like before.

It will die if FTX is unable to make its customers whole again. But I've read somewhere that the defunct exchange is getting close to paying losses in full. There are rumors of a comeback, so seeing FTT "pumping" right now should be of no surprise to many. Even SEC chairman Gary Gensler hinted the possibility of FTX making a comeback soon. I think a prominent investment company is going to buy all of FTX's assets, and get into the game. It could be Blackrock, Microstrategy, or even Fidelity. God knows what will happen in the future.

I would be cautious when investing into the FTT token because of the high risks involved by doing so. If there's no comeback, you could risk yourself losing it all in an instant. No one wants to be left holding the bag anyways. Crypto land often behaves in many strange and bizarre ways, so expect the unexpected. Just my thoughts ;D

Did he invested before or after?
If it's before, then I'm sorry to say that the future of FTT token is blur and no one can tell you for sure how it will turn out because:

• SBF is schedule to be prosecuted by March come 2024 for guilty of 7 count charges and if he will be going for at most 100 years as many people speculate on his criminal deeds
  
• There are thousands of investors that has loose money to FTX heist and they are  waiting sitting on the bench for some recovery, if the token should come up, there is going to be stress from selling side because imagine a coin that was around $51 and then crash to nearly $0.8, if there is anyone to benefit from this recovery are the people that bought the bottom.
• The exchange is likely to take more time before the relaunch and if there is no utility as the exchange that power the tokens, then it's useless. It will be traded base on speculations and not actual use.

If you are still holding in loss and you have endured since that November to now, continue to hold. Who knows what might happen tomorrow, FTX exchange might be bought back by some other rich men that will have different vision for the exchange and trust might be earned back.

Because this will not be allowed by investors who, under no circumstances, do not want to stay with a token whose price is zero. And one of these investors is Binance, which actually explains the reason that the FTT token is not delisting from the exchange after the collapse of FTX.

I'd say it again because there is another thread about asking Will FTT token everly hit it ATH again? (https://bitcointalk.org/index.php?topic=5473423.0)
That people should just stop thinking of something better will come on this token. If you have been holding it, don't hope for the best and if you're thinking to invest on it then don't try to catch those knives that will fall on your hands. If your brother OP is still in there holding this token, yeah as you have said it's likely going to have a slow death.

People just want to make a quick buck by riding the hype. It's a risk that will cost them dearly in the long run if there's no comeback of the now-defunct crypto exchange. For what I know, there are only rumors of a comeback. Nothing has been officially confirmed yet. I'd stay away from the FTT token just to be safe. Who knows if it goes to $0 soon?

There are far better alternatives on the market with a promising future. Just diversify into prominent cryptocurrencies (BTC, ETH, BNB), and you'll have nothing to worry about. Only time will tell us whenever FTX will gain the trust of crypto traders and investors again, or all the other way around. As long as we have plenty of options to choose from, nothing else matters. ;)