FTX exchange is going to be bankrupted. What happens to FTX Token?

[Bobrox]

FTX token has not been delisted from anywhere yet.  But its price has come down a lot and is constantly going down. Which may be valuless at some point like LUNA but it looks like it will not be delisted from any exchange.  As happened with LUNA. And is it now open for Binance Future trading as well.  Which is really incredible because many traders are making huge profits through Sell Short from here. I still don't know what to do with FTT in the coming days

Still open yet with future trading I think best alternative if want to earn much profit with FTX coin with short position opening, due still exist and not delisted yet I don't think FTX coin will back to higher price again after confirmed with bankruptcy. The exchange of FTX have withdrawing trouble and I think impact with FTT coin later slowly going down if not any investor try to help or acquisition to be new owner of FTX exchange.

Until several days price going down constantly not have any confirmed from the owner for new progress or trying how to make FTT back to higher price, however FTX exchange right now faced withdrawing trouble and make investor worry not only with FTX coin price going dump but also their assets disable to withdraw.

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[coinerer]

FTX token has not been delisted from anywhere yet.  But its price has come down a lot and is constantly going down. Which may be valuless at some point like LUNA but it looks like it will not be delisted from any exchange.  As happened with LUNA. And is it now open for Binance Future trading as well.  Which is really incredible because many traders are making huge profits through Sell Short from here. I still don't know what to do with FTT in the coming days

Still open yet with future trading I think best alternative if want to earn much profit with FTX coin with short position opening, due still exist and not delisted yet I don't think FTX coin will back to higher price again after confirmed with bankruptcy. The exchange of FTX have withdrawing trouble and I think impact with FTT coin later slowly going down if not any investor try to help or acquisition to be new owner of FTX exchange.

It is still possible to make profit with FTX token FTT by short position in future trading but since Future trading is high risky and FTT token is behaving strangely now.  And sometimes suddenly it shows high pump and dump so a wrong entry can cause Leqidation.  So it would be very risky to do so . So it is better not to think about doing it now

[WalkerIVIV]

you just could never be sure whether your coin/money is gonna be safe or not since it's all depends in the platform itself but always ready for the worst, since the platform itself is already in such bad state, there's big chance that the coin will just lost its value, it will quite likely lost 95% of its value in the future even if you can get back your coin, moreover binance refuses to help this platform in the very recent news so I guess there's no future for this platform.

[bitkanu]

I'm guessing that this platform is beyond saving therefore your FTT will become valueless, moreover the fact that you could't even get your FTT back is already such tremendous failure in their side, eventually everyone will just short this coin since moving over other investment seems makes more sense that just holding onto this coin, therefore so many will actually suffer from loses in investing in this coin which isn't their fault but still this loss couldn't be avoided since the company already declared bankruptcy.

[serjent05]

Hi All,

FTX is filing for bankruptcy. Do any Crypto masters know what will happen to FTX Token?

It is possible that it gets dumped since every holder will rush to sell their holding in order to cut losses.  The longer they take to sell the coins, the bigger their losses will be.  There is also a possibility that FTX tokens will become worthless.

Will it get delisted? Sad day for the crypto space.

If it doesn't meet the required trading volume then obviously it will get delisted.  But if the trading volume is maintained I think the exchange will keep it unless the SEC declares that FTX is a fraudulent company.  If that happens, exchanges will be forced to delist FTX.

[tbct_mt2]

If it doesn't meet the required trading volume then obviously it will get delisted.  But if the trading volume is maintained I think the exchange will keep it unless the SEC declares that FTX is a fraudulent company.  If that happens, exchanges will be forced to delist FTX.

I believe FTT token will not face with all two bad things: delist because of low trading volume and SEC declaration that it is a fraud company.

But it will take a lot of time for FTX to come back, maybe with some external help and investment after the bankruptcy procedure completes. For people who have interest to catch FTT token, I would like to suggest that if it is me, I would prefer to wait for 2 more months when things are cooled down and become clearer, less panic on the market and bottom is in, I will consider to buy FTT token.

At the moment, stay neutral, stay cautious are the best.

[Calm N Patience]

If indeed FTX goes bankrupt, it will be a big disaster for the crypto world and you can be sure that the FTX token will no longer be valuable, because it is no longer used. Hopefully there is still a way to save it

I think the exchange will still exist but with another ownership. There will be a long procedure to take over FTX exchange after the bankruptcy. FTX token will be fine in aspect that it won't die and disappear.

I don't know what is the price of FTT token in its ICO, lowest price. Maybe we have to prepare for the bad when the token will fall to ICO price. I still positively think that the token won't be divided hundreds or thousands of times like Terra $LUNC.

At least Sam did more quickly response than Do Kwon and it reduces panic. More than that, there is no billions of FTT token minted from the air like LUNC token.

How long for the bankruptcy to settle?  And if someone wants to take over FTX, then how long it takes for the ownership transfer?

[ThemePen]

Hi All,

FTX is filing for bankruptcy. Do any Crypto masters know what will happen to FTX Token? Will it get delisted? Sad day for the crypto space.

Shitcoin has no space in the crypto world. They scam to every user who believe them. And now FTT has no future and the CEO has run.
So keep away from these kind of coins.
I only believe in one coin and that is the king. I only believe in...

BTCitcoin

[tabas]

Yeah, I'm one of those unfortunate guys who got 37k trapped in the FTX exchange.

Sorry to hear that. They've been hacked just this day and the filing of bankruptcy really makes sense at all because the remaining funds that's assigned that's likely to pay for their customers, it's no longer there.
I've heard that some has been retrieved but I don't think that this is going to be enough to pay the millions of users that have trusted their funds onto them and sadly, you're one of those. It's a big lesson that everyone will learn from this incident.

Obviously, it's an inside job. They misused customers' funds and now they stole the last remnant of the customer's money.

That makes sense and now, Sam is on the loose and I guess he's trying to escape with his jet as per the news[1] that I've seen. But also, it's said that he's still in Bahamas and we don't know when he's going to be out of the radar. It's possible that he'll just disappear, with the ruckus that he's made, very likely to happen.
[1] Flight Radar Report Shows FTX Co-Founder's Private Jet Flew to Argentina, SBF Says He's Still in the Bahamas

[tvplus006]

I believe FTT token will not face with all two bad things: delist because of low trading volume and SEC declaration that it is a fraud company...

Nevertheless, today the Binance will delist FTT margin pairs, USDⓈ-M futures contracts and Binance flexible products - https://www.binance.com/en/support/announcement/3b4c7c08479b48d48189191e37a7adca. And as we know, other exchanges may follow Binance example, so I wouldn't be surprised if FTT delisting is announced on one of the exchanges tomorrow.

[5W-KILO]

Binance exchange have stop the deposit of FTT token on their exchange.

With the way things are going it seems every exchanges will delist FTT and so there for the token will go to zero.

I am kinda not sad about this whole situation because it will favour crypto on the long run. People will take decentralised exchanges more seriously and they will now understand how very important a crypto hardware wallet is.

[Kavelj22]

Binance exchange have stop the deposit of FTT token on their exchange.

With the way things are going it seems every exchanges will delist FTT and so there for the token will go to zero.

I am kinda not sad about this whole situation because it will favour crypto on the long run. People will take decentralised exchanges more seriously and they will now understand how very important a crypto hardware wallet is.

A somewhat late decision. Binance, on its account, had announced that $400 million had already been transferred, and had not announced its decision to stop deposits.
The platform itself is affected by everything that happened with the FTX platform, especially since there is no detailed news about what happened and how it happened. Not to mention the wholesale damage as a result of the decline in the price of cryptocurrencies, including Bitcoin and Ether.

[eaLiTy]

~
Think positively, it won't go to very low price like LUNA because FTT does not have (and will not have ?) super hyper inflation by minting as same as LUNA.

Seed investors will be having a huge stash of coins and they will be selling the coins, it is a different situation than LUNA but you need to remember that Binance has around 10 million tokens sitting in their hot wallet and then there are reports coming out $400 million worth of FTT tokens are released by the team and hence some of the exchanges have halted deposit, so it is a shit show and it is better to avoid holding them.

[BitcoinPanther]

If it doesn't meet the required trading volume then obviously it will get delisted.  But if the trading volume is maintained I think the exchange will keep it unless the SEC declares that FTX is a fraudulent company.  If that happens, exchanges will be forced to delist FTX.

I believe FTT token will not face with all two bad things: delist because of low trading volume and SEC declaration that it is a fraud company.

With the scandal and hacking that happened on FTX, there is a huge possibility that people will stop supporting the FTT token. They might even dump them on the market crashing the price.  But with manipulators and whales that owned huge bag of FTT, I think they will keep the market alive and even pump it so that they can exit with profit.  Once SEC declare the company is involved in a fraud, the exchange of token will be ceased.

But it will take a lot of time for FTX to come back, maybe with some external help and investment after the bankruptcy procedure completes. For people who have interest to catch FTT token, I would like to suggest that if it is me, I would prefer to wait for 2 more months when things are cooled down and become clearer, less panic on the market and bottom is in, I will consider to buy FTT token.

At the moment, stay neutral, stay cautious are the best.

I would say, stay away from FTT because the governing body that is managing the project behind the token is already dissolved. 

[WalkerIVIV]

I think the future of this token is already sealed, it's definitely just gonna vanish and gets delisted or maybe it's just gonna become the next luna, after all it's a coin that's backed by the exchanges behind it but when the exchange itself is becoming bankrupt then there's no utility for this coin meaning it's becoming useless coin, it's unlike smart contract coin like eth and even matic, it's just coin that represents the exchange itself basically if the exchange itself is bankrupted surely the coin will.

[FinneysTrueVision]

Will it get delisted?

Exchanges will probably wait a while to delist it. They can make a lot of money in fees right now since there are so many people trying to dump it.

[GreatArkansas]

Hi All,

FTX is filing for bankruptcy. Do any Crypto masters know what will happen to FTX Token? Will it get delisted? Sad day for the crypto space.

I am thinking FTT (FTX token) will go like what happened to Terra Luna tokens. It will be lost its value and become volatile. I am also wondering why the FTT token still not dropping to $0 or below $1, it's still above $1. Some people saying that there is some FTT token that is still locked, that's why we still can't see below $1 or $0 for FTT.

Hi All,

FTX is filing for bankruptcy. Do any Crypto masters know what will happen to FTX Token? Will it get delisted? Sad day for the crypto space.

Since the website had been hacked then that is a big problem for the team and the FTX assets. Hearing about the hack and how the crypto market was affected by this huge loses makes me ponder on who is next to have this similar problem.
(.....)

I believe it's still not fully confirmed or official that they hacked. Let's hope it's not true because if so, they are totally fucked up, all their money is gone if it is legit.

[Calm N Patience]

Yeah, I'm one of those unfortunate guys who got 37k trapped in the FTX exchange.

Sorry to hear that. They've been hacked just this day and the filing of bankruptcy really makes sense at all because the remaining funds that's assigned that's likely to pay for their customers, it's no longer there.
I've heard that some has been retrieved but I don't think that this is going to be enough to pay the millions of users that have trusted their funds onto them and sadly, you're one of those. It's a big lesson that everyone will learn from this incident.

Obviously, it's an inside job. They misused customers' funds and now they stole the last remnant of the customer's money.

That makes sense and now, Sam is on the loose and I guess he's trying to escape with his jet as per the news[1] that I've seen. But also, it's said that he's still in Bahamas and we don't know when he's going to be out of the radar. It's possible that he'll just disappear, with the ruckus that he's made, very likely to happen.
[1] Flight Radar Report Shows FTX Co-Founder's Private Jet Flew to Argentina, SBF Says He's Still in the Bahamas

His company is over. The only money he could get on hand was users' funds. This evil man can really do the worst.

[Calm N Patience]

I think the future of this token is already sealed, it's definitely just gonna vanish and gets delisted or maybe it's just gonna become the next luna, after all it's a coin that's backed by the exchanges behind it but when the exchange itself is becoming bankrupt then there's no utility for this coin meaning it's becoming useless coin, it's unlike smart contract coin like eth and even matic, it's just coin that represents the exchange itself basically if the exchange itself is bankrupted surely the coin will.

Totally agreed with you. The only chance for FTT to come back is based on the exchange itself. If someone can take over it then there might be hope, the only hope.

[Calm N Patience]

Hi All,

FTX is filing for bankruptcy. Do any Crypto masters know what will happen to FTX Token? Will it get delisted? Sad day for the crypto space.

Since the website had been hacked then that is a big problem for the team and the FTX assets. Hearing about the hack and how the crypto market was affected by this huge loses makes me ponder on who is next to have this similar problem.
Many investors would ha e lost their hard earned money for those who had coins on the platform with their life savings. This is why keeping fund in wallet is better than keeping it on exchanges.

There are still some risks to keeping all the funds in your wallet. It can be lost or stolen. Putting it in a couple of different locations is safer. keep some in your wallet and some in exchanges.