Anyone know why FTT price started to rise just now?

[Beparanf]

FTT pumping again on the news that the new CEO is considering reopening the exchange. https://www.wsj.com/articles/new-ftx-chief-says-crypto-exchange-could-restart-11674143168

It’s true that the news about reopening of exchange contributes on the hype but what really makes this sudden price movement is due to the really of Bitcoin. Most of the coin I’m holding pump x2 or x3 like Optimism(OP) and Bscpad without having a major news attached to its pump besides the rally given by the Bitcoin. I think same happened to FTT since Sol and Serum have this kind of rally too. FTT just have the spotlight in crypto scene that’s why people always curious on it’s pump despite the majority of Altcoins move like this in the background without noticing.

[teosanru]

Anyone know why FTT price started to rise just now?

I'm searching on google but not found any news, not even found on any Twitter from any person related to case of ftx.

I'm asking here to know about the reason. Thanks

I think it's because of two reasons one is that FTX US is still active so obviously some traction does comes from there. Secondly I have heard there were some rumours about the exchange restarting after the settlement of all the customers takes place and this time in an organized manner with no scams. Maybe this is why not only FTX all the coins in that eco system are getting slightly pumped up.

[adaseb]

Anyone know why FTT price started to rise just now?

I'm searching on google but not found any news, not even found on any Twitter from any person related to case of ftx.

I'm asking here to know about the reason. Thanks

I think it's because of two reasons one is that FTX US is still active so obviously some traction does comes from there. Secondly I have heard there were some rumours about the exchange restarting after the settlement of all the customers takes place and this time in an organized manner with no scams. Maybe this is why not only FTX all the coins in that eco system are getting slightly pumped up.

What are you talking about. FTX us is not active, it went offline at the same time as the intl exchange. Do you mean to say it’s solvent? Well that is not true either and was explained by John. Basically it’s not solvent because it had funds from Alameda which didn’t belong to FTX but instead LedgerX.  But the ledgerX was bought using Alameda funds which were customers not theirs.

[stompix]

FTT pumping again on the news that the new CEO is considering reopening the exchange. https://www.wsj.com/articles/new-ftx-chief-says-crypto-exchange-could-restart-11674143168

Hmm, it's more like a recovery pump after the previous one faded away.
Indeed it went up nearly 300% from the one-month low of 0.8$ but it's still only $2.4 compared to $25 before the crash and peak of $77. Of course, the news of a possible restart from a damaged company would for sure trigger a pump with every kind of asset be it coins or shares but it's a long way up to recover even a few of the losses.

The bright side with FTX is that the reason it failed was an individual, so if that guy and his roommates are removed from any kind of decision-making job the exchange itself has no reason to not be economically viable.

[dbshck]

The bright side with FTX is that the reason it failed was an individual, so if that guy and his roommates are removed from any kind of decision-making job the exchange itself has no reason to not be economically viable.

Agree, I believe the exchange itself should've been massively profitable. It was the commingling of assets between FTX and Alameda, i.e., Alameda borrowing billions of FTX customers' funds that brought down the exchange.

FTX was one of the best exchanges in terms of trader experience. I like the ability to cross-margin between various assets and positions and the free instant withdrawal. I don't think restarting the exchange with new, legitimate management is a bad idea, especially if it could help the creditors/customers to get more of their money back.

[worle1bm]

I'm certainly not the most qualified person to answer your question but I recently came across an article claiming that the FTX exchange was able to recover 5 billion dollars in assets (including  other cryptocurrencies, cash, and other liquid assets) in an effort to repay its customers, which could possibly justify the recovery FTT is marking.

Source: https://cryptopotato.com/ftx-locates-5-billion-in-assets-attorney-says-report/

That could possibly the reason of coin again pumping as people might be happy for such recovery but what's the fun of pumping the coin which will have no value afterwards or holding it won't benefit you? But as the recovery phase starts we may see more trading volume for it on exchange by people who want to cash out their withdrawal from the exchange.

[mdzahed134]

There are many article published about FTX, it can be re started because they have 5 billion dollars fund to pay their customers/holders those are already lost everything, this news reflected on the token price, so that it’s buying pressure increasing. But i don’t 5$ billion is enough fund to refund all of the users.

[LUCKMCFLY]

I couldn't know why they did it, but a friend had told me that he was buying FTT because it was very cheap and that he knew that they were going to give him a good pump before he died in his entirety, I think that's it. what they do to be able to excite people so that they buy, because the more the whales buy, the more they sell, so this mopvimeit was not in the play of many, I bet that many traders made a lot of money with this pump, these movies are not in the market They are not trustworthy at all, I don't know if it will recover, I doubt it, but the most likely thing is that the currency will die completely, of course it is my way of thinking.

[bittick]

There are many article published about FTX, it can be re started because they have 5 billion dollars fund to pay their customers/holders those are already lost everything, this news reflected on the token price, so that it’s buying pressure increasing. But i don’t 5$ billion is enough fund to refund all of the users.

It's what already said by new CEO but the problem is we didn't know about the truth. FTX already dead. https://decrypt.co/119586/ftx-token-ftt-pumps-new-ceo-exchange-revived

I will not even believe it. SBF has been living in luxury with customers' funds and I thin that's quite impossible for exchange site to be revived again. yeah, it can be revived by different parties but it will not even make the trust come back to the FTX again.

[samcrypto]

There are many article published about FTX, it can be re started because they have 5 billion dollars fund to pay their customers/holders those are already lost everything, this news reflected on the token price, so that it’s buying pressure increasing. But i don’t 5$ billion is enough fund to refund all of the users.

It's what already said by new CEO but the problem is we didn't know about the truth. FTX already dead. https://decrypt.co/119586/ftx-token-ftt-pumps-new-ceo-exchange-revived

I will not even believe it. SBF has been living in luxury with customers' funds and I thin that's quite impossible for exchange site to be revived again. yeah, it can be revived by different parties but it will not even make the trust come back to the FTX again.

The only interest with them right now is the funds that they are able to retrieved many are awaiting for them to release it and transfer it back to the real owners but after that, I don't think many will look into this project again because its already dead and their reputation will never be ok again even if they change their ownership or just the CEO. They have to release it as soon as possible and I hope the authority is already looking into this and will audit FTT at all cost.

[Ludmilla_rose1995]

Anyone know why FTT price started to rise just now?

I'm searching on google but not found any news, not even found on any Twitter from any person related to case of ftx.

I'm asking here to know about the reason. Thanks

a group of people bought it because they heard the news that FTT got a loan with a large nominal value but did not know how long this news would make the FTT price go up, I'm sure there will also be manipulation experiments behind it, for newbies it's best not to buy FTT tokens at news like this because of the potential the price to fall deeper is very large.

[ije07]

I think it is unlikely that FTX will be able to return to the way it was in the near future. many people have speculated that FTX is dead and many think otherwise. and I personally think the current FTT price increase may be temporary or hype to attract investors back, similar to the LUNA incident when the price dropped drastically last year. for beginners need to reconsider before buying current FTT coins.

[jostorres]

I think it is unlikely that FTX will be able to return to the way it was in the near future. many people have speculated that FTX is dead and many think otherwise. and I personally think the current FTT price increase may be temporary or hype to attract investors back, similar to the LUNA incident when the price dropped drastically last year. for beginners need to reconsider before buying current FTT coins.

Just like they say that once the trust is broken it will now be hard to re-build/re-gain again. See what happened to other projects who also did something inappropriate but decided to come back later on. Luna anyone? They never succeeded. FTX is dead for real and it's not just a speculation only.

Everyone witnessed it but it's only crazy if their coin FTT is still in the market and haven't been delisted yet. Did Scam Bankman Fraud pay those exchanges a big amount for them to retain his coin? If not then they better de-list it before many people will lose their money, and then many people are going to blame them same with what happened with Luna before.

[shinratensei_]

it was because there is rumour that the exchange will be restarted somehow which I don't believe mainly because it has lost its trust, i'm sure majority aren't gonna trust this platform again even if they did restarted their platform therefore I guess the rise gonna be temporary, moreover there is many reason why they should just build a platform from scratch rather than restarting the platform, the new CEO i'm sure is just spreading such rumour so that the ftt token gets rise in value.

[BenCodie]

it was because there is rumour that the exchange will be restarted somehow which I don't believe mainly because it has lost its trust, i'm sure majority aren't gonna trust this platform again even if they did restarted their platform therefore I guess the rise gonna be temporary, moreover there is many reason why they should just build a platform from scratch rather than restarting the platform, the new CEO i'm sure is just spreading such rumour so that the ftt token gets rise in value.

It's very likely that this is no more than a rumor or experiment just like someone else in the thread mentioned. Though if it were true, it would be not be at all surprising if some old or new US customers continued to use the exchange despite its history, even if old customers don't get their entire amount of money back. It is a sad reality, but some people do not do due diligence or believe in things like "a new ceo". If the exchange allows everyone to unlock their balance, then it is a different story. Maybe a chance will be had in that scenario. Either way I personally believe that this exchange, its name and all of its assosciates should be boycotted by the entire market.

[pantek talacuik]

I think it is unlikely that FTX will be able to return to the way it was in the near future. many people have speculated that FTX is dead and many think otherwise. and I personally think the current FTT price increase may be temporary or hype to attract investors back, similar to the LUNA incident when the price dropped drastically last year. for beginners need to reconsider before buying current FTT coins.

It will be difficult to get up if you have been labeled as experiencing bad things at the beginning and that's how humans will be. Although there are some people who still hope that it will turn out to be profitable later. but everyone has their own choice about all this.