FTX token surges $2.70 amid rumors of bankruptcy distributions
FTT’s rise comes after a steep fall following FTX’s collapse in November 2022. At its peak in 2021, FTT reached nearly $80, but after FTX’s implosion, the token dropped below $2 and has traded at that level since. The crash was accelerated when Binance, a major FTT holder, sold its entire position in FTX for risk management purposes.