Maybe its a trick, so if everybody buys this token at a 80% loss, then FTX liabilities reduce by 80% and they solvent again?
That would only work if the majority of their holdings were in Tron-based coins (they're not), but they have large bags of BTC, ETH, and FTT instead and none of these can be "haircutted" to reduce their liabilities.
But people will sell their BTC, ETH, Stables for TRX at an 80% rate cut.
Looking at TRXUSD and TRXUSDT there was $200M that traded.
There is probably another $50M that traded in the other tokens and their BTC pairs counterparts.
So far $250M traded, so SBF liabiabilites of $250M went down to $50M.
Do this for a month or two and he will be solvent again.
SBF won't go to jail.
Justin Sun will be rich and his token will become popular.
Retail gets screwed
I was around in 2015 when Bitfinex got hacked. As soon as that exchange went online, people sold their IOU token at a loss and were happy just to lose 30%. Then 6-12 months later, Bitfinex paid back in full all those loses in USD terms.