A touch after 9:00 p.m. (ET), the crypto community noticed that the FTX (FTT) deployer contract moved 192 million FTT tokens.
On Nov. 5, 2022, ftx was trading for $25 per FTT and by Nov. 8, it was below $5 per coin. FTT was a token launched shortly after FTX was created, and it was privately launched in July 2019 by the FTX and Alameda teams.
Out of the initial 350 million FTT tokens, 175 million were designated as “company tokens that unlock over a three-year period.” 73,461,920 FTT tokens were sold and vested by “July 21st, 2019,” according to FTX’sFTX’s transparency page around the time when the IEO was taking place in July 2019.highlights that most of FTT’s value stems from an “all-star team.” The FTT white paper says that FTX is backed by Alameda Research, the quantitive crypto trading platform started by Sam Bankman-Fried .
In fact, anyone who purchased FTT before Sept. 06, 2019, is still up by 74% against the U.S. dollar. 50 million FTT tokens were sold for a price range between $0.10-$0.20 during the initial exchange offering .
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