Get started

FTT

FTX Founder Sam Bankman-Fried's Prosecutor QuitsThe cryptocurrency world is once again witnessing the ripple effects of legal drama surrounding FTX, as Danielle Sassoon, the prosecutor responsible for securing Sam Bankman-Fried’s conviction, has resigned. With speculation mounting about the implications for Bankman-Fried’s appeal, the TSX:FTT token is at the center of renewed attention. But does this development signal a fundamental shift for the beleaguered exchange token, or is it merely another headline in FTX’s tumultuous history? Prosecutor’s Resignation: What Happened? Danielle Sassoon, a key figure in the prosecution of Sam Bankman-Fried, played a pivotal role in exposing inconsistencies in his testimony, ultimately leading to his conviction. Bankman-Fried was found guilty of fraud, conspiracy, and money laundering, resulting in a 25-year prison sentence. However, in a surprising turn of events, Sassoon resigned from her role as Acting U.S. Attorney for the Southern District of New York after just three weeks. Reports indicate that her decision stemmed from a disagreement with the U.S. Department of Justice (DOJ) regarding a corruption case against New York City Mayor Eric Adams. In an 8-page resignation letter, Sassoon expressed her unwillingness to comply with a DOJ directive to drop charges against Adams, citing a lack of legal justification for dismissal. Her departure has ignited speculation within the crypto community. Some believe that a shift in prosecutorial stance could impact Bankman-Fried’s appeal, potentially influencing TSX:FTT ’s trajectory in the market. While such an outcome remains highly speculative, traders are watching closely for any developments that could alter TSX:FTT ’s sentiment. Market Reactions and Technical Outlook As of writing, TSX:FTT is down 4.27%, consolidating within a bearish zone after surging to nearly $4 in recent weeks. The token has struggled to maintain bullish momentum, with volume appearing weak amid market uncertainty. Key Technical Indicators: TSX:FTT remains in a downtrend after failing to hold its recent highs. A lack of significant buying While Sassoon’s resignation might be perceived as positive news for FTX’s former CEO, it remains uncertain whether this will translate into tangible gains for $FTT. Can TSX:FTT Stage a Comeback? Despite the legal drama, TSX:FTT ’s long-term outlook remains tied to the broader fate of FTX’s bankruptcy proceedings. The exchange collapsed in November 2022, leaving creditors and users grappling with the fallout. While certain developments, such as potential asset recoveries, could provide some relief, TSX:FTT ’s intrinsic value has been severely diminished due to the exchange’s downfall. However, some traders see opportunities in TSX:FTT as a speculative asset, banking on volatility-driven short-term price swings. Conclusion While Danielle Sassoon’s resignation introduces a new narrative into the FTX saga, its tangible impact on TSX:FTT remains speculative at best. The token continues to trade under bearish conditions, and without a fundamental catalyst, a strong recovery remains unlikely in the near term. However, for short-term traders, volatility surrounding legal developments could present trading opportunities. As the situation unfolds, investors should remain cautious, keeping an eye on both technical patterns and legal updates that could shape TSX:FTT ’s trajectory in the weeks ahead.
Long
by DEXWireNews
FTX WILL REFUND IT CUSTOMERS.FTX will be refunding around 16 BILLION USD (in stables) back to its customers from tomorrow on which is overall a very good thing, why? because it is capital that could ENTER the market as customers receive it back in stables so their is no way that that money/liquidity can leave the market. As this will happen it could cause a pump in FTX's token FTT. FTT is ranging here at resistance trying to breakout and once a breakout comes it could pump a solid 60-150% (i would trade this in spot, not with leverage) Be aware of your own risk management but it looks like a solid set up as this refund is a bullish thing.
CRYPTO:FTTUSDLong
by ammardeey
FTTUSDT: Is a Major Breakout Coming? Watch These Key Levels Now!Yello, Paradisers! Is FTTUSDT gearing up for a strong bullish reversal, or is this just another trap? Let’s break it down. 💎FTTUSDT has completed a proper ending diagonal with a clear 5-wave count, signaling a potential trend shift. Adding to the bullish case, we’re also seeing an inverse head & shoulders pattern forming, along with a bullish divergence, both of which increase the probability of an upward move. 💎If the price breaks out and closes candle above the resistance zone, it will confirm the pattern, setting the stage for a strong bullish move. 💎If the price breaks down and closes candle below the support zone, the bullish setup will be invalidated, and in that case, it’s best to stay patient and wait for a better price action setup. 🎖The market always gives opportunities, but only disciplined traders take full advantage. Stay sharp, Paradisers—patience and strategic execution are key to long-term success. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
2
FTX Set to Begin Creditor Payouts in 2025: What It Means?The long-anticipated creditor repayments for FTX are finally set to commence, marking a pivotal moment in the exchange's financial restructuring. However, as with any major development in the crypto space, there are conditions, concerns, and market implications that traders need to be aware of. Here’s a breakdown of the upcoming FTX payout process and its potential impact on the price of $FTT. FTX Creditor Payouts: Key Details On February 18, 2025, certain FTX creditors will begin receiving their payouts, with those in the Convenience Class (claims up to $50,000) first in line. Under the restructuring plan, these creditors will receive 119% of their recorded claims, valued based on November 2022 asset prices, along with an additional 9% annual interest. However, all payments will be made strictly in stablecoins—excluding Bitcoin, altcoins, or any other crypto assets. To receive payouts, users must complete KYC verification, submit tax documents, and select a distribution platform. Available payout platforms include Kraken and BitGo, but regional restrictions will apply, particularly in jurisdictions like Ukraine. John J. Ray III, the chairman of the FTX liquidation committee, emphasized the importance of this step, stating: "Today's announcement reflects the outstanding success of our recovery and coordination efforts over the past 28 months. These efforts are ongoing, and our focus remains on executing these distributions in accordance with our plan while also continuing to pursue the recovery of outstanding assets." Scam Alerts and Delays in Compensation As FTX prepares to distribute funds, scammers have seized the opportunity to defraud unsuspecting users. Fraudulent emails, phishing websites, and malware-laced links have surfaced, posing significant threats to creditors. Users are advised to only engage through official FTX channels and to verify any communications regarding payouts. FTT Price Action: What’s Next? The FTX Token ( TSX:FTT ) has experienced notable volatility amid these developments. At the time of writing, TSX:FTT is down 5.41%, trading in bearish territory, with eyes on its 1-month low as a support level. A drop to this critical support zone could serve as an attractive entry point for traders, given that the level previously acted as resistance before flipping to support. If TSX:FTT manages to hold this range, it may attract fresh buyers looking for a reversal opportunity. Conversely, a break above the 1-month resistance zone could trigger a strong influx of buyers, potentially leading to a 50% price surge. This scenario would depend on overall market sentiment and any further updates regarding FTX’s ongoing asset recovery efforts. Market Sentiment and Final Thoughts While the launch of FTX creditor repayments is a step forward in closing one of crypto’s biggest bankruptcy cases, uncertainties remain. Traders should monitor key technical levels for TSX:FTT while staying updated on regulatory and legal developments surrounding FTX’s liquidation.
Long
by DEXWireNews
Breaking: Backpack Acquires FTX EU in $32.7M DealIn a major development for the European crypto market, Backpack Exchange has acquired the bankrupt European unit of FTX for $32.7 million. This strategic move positions Backpack as a key player in regulated crypto derivatives, aiming to restore trust and innovation in the sector following the FTX collapse. The Acquisition: A New Chapter for FTX EU FTX EU, previously part of Sam Bankman-Fried’s defunct crypto empire, operated under a MiFID II license from the Cyprus Securities and Exchange Commission (CySEC). The acquisition by Backpack marks a significant step in reviving the platform’s operations. According to Armani Ferrante, CEO of Backpack Exchange, the company plans to offer a full suite of crypto derivatives throughout Europe, starting with regulated perpetual futures—a product currently unavailable in the EU. Backpack’s entry comes at a time when major players like Bitstamp and Coinbase have secured MiFID II licenses, with other firms like D2X preparing to deliver USD-denominated futures and options. Backpack’s MiCA notification has already been submitted, and Ferrante expects operations to commence in Q1 2025. Rebuilding Trust and Innovation The acquisition not only secures Backpack’s foothold in the European market but also provides an opportunity to repair the damage caused by FTX’s collapse. Ferrante emphasized the company’s commitment to returning FTX EU customers’ funds as a priority. Once this process is complete, Backpack aims to launch its regulated perpetual futures product, further solidifying its market position. Backpack’s founders, known for their contributions to the Solana ecosystem and success in the wallet and NFT business, raised $17 million in funding last year. This financial backing underscores the company’s capability to execute its ambitious plans. Technical Outlook: TSX:FTT Price Analysis Despite the acquisition news, TSX:FTT , the native token of the FTX platform, has shown a weaker trend channel, down 2.14% at the time of writing. The Relative Strength Index (RSI) stands at 46, indicating a neutral momentum but leaning towards bearish sentiment due to selling pressure. Key Technical Levels: - Support: The 65% Fibonacci retracement level serves as immediate support. A breakdown below this level could trigger a selling spree, potentially driving TSX:FTT to its one-month low. - Resistance: If TSX:FTT manages to rebound, traders should watch for a move above the current trend channel to confirm a bullish reversal. While the acquisition provides a positive fundamental backdrop, traders remain cautious, awaiting clarity on how the settlement of affected FTX customers will unfold. The resolution of these issues could act as a catalyst for TSX:FTT ’s recovery. The Road Ahead Backpack’s acquisition of FTX EU represents a turning point for regulated crypto derivatives in Europe. With plans to launch a full suite of products and restore customer trust, the company is poised to make significant strides in the market. For TSX:FTT , the path forward depends on both the broader market sentiment and the successful implementation of Backpack’s ambitious plans. Investors and traders should monitor both technical indicators and fundamental developments closely as Backpack reshapes the narrative around FTX EU and its role in the European crypto landscape.
Long
by DEXWireNews
Ftx token ( FTT)Ftt usdt Daily analysis Time frame 4hours Risk rewards ratio >2.5 👈👌👈👈 First target 4.5 $ Second target 5.45 $ LS should have been chosen very close to the entry point (a little below the diagonal line), but in order not to be caught, I chose LS much lower, so that over time and as the price grows, I will also raise LS and make it risk-free. Good news has also been heard in cyberspace about the new management of the FTX exchange, which is paying off its debts, and this is a positive sign for the future this currency and it is likely to return to its original position, the price range before the problems it had with the Binance exchange. (20-25$)
Long
by Habib-Tafazoli
Breaking: Joe Biden Might Pardon Sam Bankman, Founder of FTXThe crypto world is abuzz with speculation that President Joe Biden could pardon Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX. Bankman-Fried, sentenced to 25 years for fraud and money laundering, remains a polarizing figure. This speculation is fueled by his substantial political donations to the Democratic Party, estimated to total hundreds of millions. These ties have sparked debate about the potential influence on Biden’s discretion to grant a pardon. Elon Musk’s commentary has added weight to these rumors, suggesting that such a move could distract from the upcoming power transition to Donald Trump, scheduled for January 20, 2025. Despite the speculation, platforms like Polymarket estimate only a 16% probability of a pardon, underscoring the general skepticism among political traders. FTT’s Resurgence Amid Bankruptcy Developments While political speculation swirls, FTX Token ( TSX:FTT ) has seen a remarkable 15% surge in value. This comes after FTX announced plans to begin creditor payouts in early 2025 as part of its Chapter 11 bankruptcy process. The court-approved plan will commence on January 3, 2025, with the first tranche of payments targeting "Convenience Classes" claims. The announcement has buoyed investor sentiment, pushing FTT’s price to $3.28 and its market cap to $1.08 billion, with trading volume surging 170%. Despite this positive step, FTX’s recovery journey remains fraught with legal and financial complexities. The company’s eventual revival hinges on asset liquidation and the resolution of outstanding legal issues, a process likely to take years. Technical Analysis of TSX:FTT FTT’s recent price action highlights a bullish reversal pattern, defying the broader crypto market’s bearish trend. Trading at $3.20, FTT has a bullish RSI of 61.77, signaling strong momentum. Key technical levels include: - Support: Immediate support lies at the 65% Fibonacci retracement level, providing a cushion for potential pullbacks. - Resistance: The immediate pivot is the one-month high. A break above this level could ignite a bullish rally, targeting higher resistance zones. FTT’s resilience amid market uncertainty suggests growing investor confidence, potentially driven by the promise of creditor payouts and speculation about the exchange’s future. Overview FTX Token’s value proposition has historically been tied to the FTX platform, offering benefits like fee discounts, staking rewards, and leveraged token creation. However, with FTX’s bankruptcy, the token’s utility has diminished. The recent price surge reflects speculative interest rather than intrinsic value, as the token’s future remains uncertain. FTT Token Overview - Launch: May 8, 2019 - Utility: Discounts on trading fees, staking rewards, and collateral for leveraged positions - Current Status: Associated with a defunct platform, under Chapter 11 proceedings Investor Caution While the recent rally is promising, investors should approach TSX:FTT with caution. The token’s price movements are heavily influenced by speculative trading and bankruptcy developments. Moreover, the potential for token liquidation to pay creditors poses a significant risk to its value. Conclusion The dual narratives surrounding Sam Bankman-Fried’s potential pardon and FTX’s bankruptcy proceedings underscore the complexity of the situation. For TSX:FTT , the path forward is uncertain, balancing speculative optimism against the harsh realities of a defunct platform. Investors should closely monitor legal and market developments to navigate this volatile landscape effectively.
Long
by DEXWireNews
FTTUSDT %378 Daily Volume Spike FTTUSDT has recorded a 378% daily increase in trading volume. To capitalize on this increase: I will closely observe the price movement toward the blue boxes on the chart. I will evaluate potential upward breakouts in lower time frames from these regions to identify entry opportunities. This strategy allows for careful monitoring and reduces unnecessary risk. Let me know if you want further edits or additions! I keep my charts clean and simple because I believe clarity leads to better decisions. My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups. My Previous Analysis 🐶 DOGEUSDT.P: Next Move 🎨 RENDERUSDT.P: Opportunity of the Month 💎 ETHUSDT.P: Where to Retrace 🟢 BNBUSDT.P: Potential Surge 📊 BTC Dominance: Reaction Zone 🌊 WAVESUSDT.P: Demand Zone Potential 🟣 UNIUSDT.P: Long-Term Trade 🔵 XRPUSDT.P: Entry Zones 🔗 LINKUSDT.P: Follow The River 📈 BTCUSDT.P: Two Key Demand Zones 🟩 POLUSDT: Bullish Momentum 🌟 PENDLEUSDT.P: Where Opportunity Meets Precision 🔥 BTCUSDT.P: Liquidation of Highly Leveraged Longs 🌊 SOLUSDT.P: SOL's Dip - Your Opportunity 🐸 1000PEPEUSDT.P: Prime Bounce Zone Unlocked 🚀 ETHUSDT.P: Set to Explode - Don't Miss This Game Changer 🤖 IQUSDT: Smart Plan ⚡️ PONDUSDT: A Trade Not Taken Is Better Than a Losing One 💼 STMXUSDT: 2 Buying Areas 🐢 TURBOUSDT: Buy Zones and Buyer Presence 🌍 ICPUSDT.P: Massive Upside Potential | Check the Trade Update For Seeing Results 🟠 IDEXUSDT: Spot Buy Area | %26 Profit if You Trade with MSB
Long
by XU99
FTT is about to riseFrom the point where we placed the green arrow on the chart, it seems that FTT has initiated an ABC pattern or a more complex structure. Wave B also appears to be a triangle that is nearing completion. We expect FTT to soon enter a major wave C. As long as the green zone is maintained, it can pump toward the TPs. Closing a daily candle below the invalidation level will invalidate this analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
FTX Reorganization Plan Fuels $FTT Rally Amidst Positive OutlookFTX Trading Ltd., the embattled cryptocurrency exchange undergoing Chapter 11 bankruptcy proceedings, has announced significant progress toward its reorganization plan. With a target implementation date set for January 2025, this development has sparked renewed investor confidence, propelling the TSX:FTT token’s price upward by 13% in recent trading sessions. Reorganization Milestones FTX’s reorganization plan, approved by the Court, aims to facilitate creditor and customer distributions, marking a critical step in its recovery journey. Key updates include: - Distribution Framework: The initial distribution of recovered assets is expected to begin within 60 days of the plan’s enforcement. - Global Access: FTX has partnered with specialized distribution agents to ensure global customer access, requiring users to complete KYC verification and tax formalities. - Timeline: Final arrangements with distribution agents by December 2024. Effective date announcement by the end of December. Initial distributions set for early 2025, prioritizing holders of allowed claims in Convenience Classes. FTX CEO John J. Ray III emphasized the importance of the timeline, stating, “We are full steam ahead to reach arrangements with our distribution agents and return proceeds to creditors and customers as quickly as possible.” If successful, the reorganization plan could restore significant trust in FTX, potentially attracting a surge of new and returning investors. Technical Analysis: The promising update has significantly impacted the FTT token’s performance: TSX:FTT has surged 13%, continuing to trade within a bullish zone. The Relative Strength Index (RSI) at 66, indicates strong upward momentum without entering overbought territory, suggesting room for further growth. The token is trading above key moving averages, reinforcing its bullish trajectory. The bullish sentiment is further supported by market speculation that FTX’s ability to reimburse creditors could lead to a renewed influx of investor interest, bolstering the exchange’s reputation and operational capacity. Looking Ahead FTT’s recent price surge serves as a beacon of hope for FTX’s recovery, reflecting market optimism about its ability to execute its reorganization plan effectively. If the exchange successfully meets its commitments, it could not only restore trust among affected customers but also reposition itself as a formidable player in the cryptocurrency landscape. With the reorganization plan underway, TSX:FTT appears poised to continue its upward trajectory, solidifying its place as a key token to watch in the coming months. For investors, this may signal a unique opportunity to ride the wave of FTX’s potential resurgence.
Long
by DEXWireNews
2