The FTX Ponzi: Uncovering The Largest Fraud In Crypto History

To support FTTs value, FTX regularly acquired FTT tokens utilizing a portion of trading charge income generated on the platform. The FTT token does not entitle its holders to FTX income, shares in FTX nor governance choices over FTXs treasury.Alamedas balance sheet was first pointed out in this Coindesk short article showing that the fund held $3.66 billion in FTT tokens while $2.16 billion of that was used as security. The cost of FTT with a side profile showing FTT trading volume on FTX (logarithmic scale)FTT Market Cap (logarithmic scale) – Source: CoinMarketCapCZ Chooses BloodIn one choice and tweet, CEO of Binance, CZ, kicked off the toppling of a house of cards that in hindsight, appears inevitable.

FTT holders benefited from additional FTX advantages such as lower trading fees, discounts, refunds and the ability to utilize FTT as security to trade derivatives. To support FTTs worth, FTX regularly acquired FTT tokens utilizing a percentage of trading fee earnings created on the platform. The FTT token does not entitle its holders to FTX earnings, shares in FTX nor governance decisions over FTXs treasury.Alamedas balance sheet was first pointed out in this Coindesk short article revealing that the fund held $3.66 billion in FTT tokens while $2.16 billion of that was utilized as security. The price of FTT with a side profile showing FTT trading volume on FTX (logarithmic scale)FTT Market Cap (logarithmic scale) – Source: CoinMarketCapCZ Chooses BloodIn one choice and tweet, CEO of Binance, CZ, kicked off the toppling of a house of cards that in hindsight, seems inevitable. Concerned that Binance would be left holding an useless FTT token, the business intended to offer $580 million of FTT at the time.