The cryptocurrency market never ceases to amaze, with the FTX Token (FTT) recently rallying a whopping 230% in the span of 30 days. This remarkable surge has left many investors and traders questioning whether it’s time to buy back into the FTX exchange or if there’s a better option out there, like investing in a community-driven exchange such as Pullix.io.
FTX Token (FTT) Makes a Striking Comeback
FTX Token’s rapid price escalation follows the potential news of FTX considering reopening its doors. The attorneys from Sullivan & Cromwell shared in a court hearing that FTX, navigating through bankruptcy, might let creditors convert their holdings into a stake in a new version of the exchange. This news spurred a significant price rally for FTX Token, more than doubling in value and injecting a dose of optimism into the token’s future.
Following this revelation, the token surged to $4.17, marking a staggering 230.34% increase in just one month. This impressive monthly performance has put the token on a 212.87% rise over the past year.
The FTX Token’s sharp increase comes amid revelations of FTX’s potential revival. The exchange, currently navigating bankruptcy proceedings, has hinted at allowing creditors to convert holdings into stakes in a reimagined platform. This news propelled the FTX Token’s value to more than double, igniting a flurry of market activity as traders reassess the FTX Token’s future viability.
Recovering from its spectacular collapse, FTX has made headway in asset recovery, with its attorneys announcing a jump from $1.9 billion to $7.3 billion in liquid assets. Despite this progress, the exchange is clear that it remains a long way from any equity distribution. Yet, FTX Token’s price movement is a strong indicator of the market’s reaction to the possibility of FTX’s comeback, with FTX Token investors eagerly watching the developments.
Is Pullix.io: A Viable Alternative?
In light of FTX Token’s surge, investors are exploring alternatives like Pullix, a community-driven exchange paving the way for a new era in TradeFi. Pullix.io stands out with its innovative token burn feature, aiming to reduce the total supply of its native token, PLX, to enhance its value. This feature, along with the promise of daily revenue sharing with PLX holders, positions Pullix.io as an attractive investment compared to the uncertainty surrounding FTX Token.
Pullix.io’s approach offers a stark contrast to the traditional exchange model. It provides investors with a sense of security and belonging, with its model ensuring that every PLX holder has a stake in the platform’s success. As Pullix prepares for its launch, the excitement around its community-focused model could very well position PLX as a smart investment choice, particularly for those wary of the turbulence surrounding FTX Token.
With FTX Token’s recent performance and the potential of Pullix.io, investors face a choice: take a chance on FTX Token’s newfound momentum or opt for the community-oriented, innovative platform that Pullix.io promises to be.

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#FTXRevival #FTX's #FTXUpdate #topnews #TopCryptoNews

The #crypto Market is about to be pumped with Liquidity.
Bankrupt crypto exchange FTX has filed a motion to pay $14 million to fund Emergent Fidelity Technologies, for its claims of Robinhood shares worth over $600 million.‼️
The $14 million will be used to pay for Emergent’s administrative expenses to avoid the cost and delay of litigation related to the investment firm’s claims in around 55 million seized Robinhood shares and cash worth over $600 million in total.
FTX has called the settlement agreement “another valuable piece of the puzzle” in its reorganization plan.
#FTX's #FTXRecovery #CryptoMarketTrend

With the impact of the crises on the Binance exchange, FTX Token (FTT) experienced a remarkable increase of 296.17% from its price of $1.05 on October 22.
Will FTT Coin Rise?
In the past 24 hours, FTT, the local token of the FTX exchange that has fallen out of favor in the past due to the crisis, experienced a significant value and price increase of up to 45% thanks to the events and recent developments at its major competitor, Binance.
At the time of writing, FTT was trading at $4.26, indicating an impressive positive increase of 43.24% in the last 24 hours, and a 21.08% increase in the last 7 days.
The price increase in FTT also means that it has outperformed 89% of the top 100 crypto assets in the past year. Additionally, FTT remained in the positive zone for 18 days during the previous 30-day period and managed to trade above the 200-day moving average at the same time.
Despite all these price movements, it is still -95% below its all-time high of $84 at some point.
Is FTT Replacing BNBs?
The value increase is associated with positive sentiments towards FTT. In addition, the upward price movement indicates that investors are replacing Binance Coins (<a href="https://en.coin-turk.com/renowned-analyst-forecasts-significant-upswing-for-binance-coin-bnb-and-possible-market-downturns/”>BNB) with FTT after regulatory problems increased at Binance.
In response to Binance’s suspension of its operations in the US, it seems that some funds are investing in FTX Token, according to a post by Santiment on November 22.
The behavior analysis platform made the following statement:
Although many people see #Binance news as the main culprit of one of the biggest pullbacks of the year, the truth is that #altcoins have already seen declining market values. Interestingly, some traders seem to be swapping their $BNBs with @FTX_Official’s $FTTs.

Despite FTX cryptocurrency derivatives exchange filing for bankruptcy in November 2022 after the crisis and the recent legal decisions against its founder and owner, Sam Bankman-Fried, FTT seems to be experiencing a price increase in recent times.
Another development believed to be profitable for FTT is the legal process initiated against Changpeng Zhao, the former CEO of its rival Binance, who resigned after yesterday’s crisis.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#FTX's #ftx $FTT

Following the highly publicized fraud trial, FTX co-founder Sam Bankman-Fried has been found guilty on all charges. Indeed, following deliberation, the juror issued a guilty verdict on seven charges, meaning the one-time crypto mogul is set to face more than 110 years in prison.The case followed the devastating collapse of FTX, which at one time was one of the strongest brands in the industry. Subsequently, Bankman-Fried and his defense attorneys were unable to prove, without a shadow of a doubt, that he defrauded investors through the exchange.Bankman-Fried Found Guilty on Fraud ChargesThe fall of FTX has been described as one of the largest financial crimes in American history. Indeed, it is certainly the greatest controversy to face the digital asset industry in its history. Now, the man who created and ran the exchange is set to face justice.Following a trial that dominated the news cycle, Sam Bankman-Fried has been found guilty on all seven charges issued against him. The jurors deliberated after closing arguments were issued by both sides on November 1st. Subsequently, they concluded that Bankman-Fried maintained culpability for the company’s downfall.Throughout the trial, Bankman-Fried attempted to convince jurors of his innocence. Specifically, he had continued a defense that began with a media tour following the exchange’s collapse. Bankman-Fried has consistently assured the public that the collapse was a result of his ignorance, not malice. Yet, the jurors seemingly did not believe the defense set forth.Many had predicted that Bankman-Fried would face conviction. Yet, there remained the belief that the overarching dysfunction of the platform as a whole would absolve him of sole responsibility. Conversely, jurors have instead agreed with the prosecution, finding Bankman-Fried guilty.Bankman-Fried sat motionless at the defense table in a grey suit. He was made to stand and face the jury for the reading. He showed no emotion.#FTX's #Fraud #CryptoNews🔒📰🚫

FTX Derivatives Exchange, currently undergoing bankruptcy proceedings, has made headlines by redeeming a significant amount of Solana ($SOL ) previously locked in Proof of Stake (PoS) staking. On-chain data from Solscan reveals that FTX-related wallets, including those linked to Alameda Research, withdrew 177,693 SOL, valued at approximately $24 million. Although the exact motivation behind this redemption is still speculative, the move could be part of the exchange's efforts to raise funds for its legal and operational expenses.
At its peak, FTX had substantial holdings in Solana due to Alameda Research's investment, making the exchange a dominant force in SOL’s market. However, following FTX's collapse, Solana's price experienced a steep decline, driven by concerns over FTX's vast exposure. Despite the recovery of Solana's value to pre-crisis levels, the exchange still holds a significant 7.057 million SOL in staking, worth around $954 million, keeping its influence in the ecosystem intact.
As FTX moves closer to resolving its bankruptcy, it is anticipated that the remaining SOL may be redeemed in the coming months to settle debts and obligations. While this could lead to volatility in Solana's price, current market data suggests that the recent $24 million redemption hasn't triggered widespread sell-off concerns. Solana’s price continues to climb, trading at $134.91, with a notable increase in trading volume, showing resilience despite FTX’s maneuvers.
#FTX's #SolanaUSTD #PowellAtJacksonHole #BinanceSquareFamily

FTX founder Sam Bankman-Fried's spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl advertisement and dreams of a future run for president — hit rock bottom Thursday when a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion.After the monthlong trial, jurors rejected Bankman-Fried's claim during four days on the witness stand in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world's second-largest crypto exchange, collapsed into bankruptcy a year ago."His crimes caught up to him. His crimes have been exposed," Assistant U.S. Attorney Danielle Sassoon told the jury of the onetime billionaire just before they were read the law by Judge Lewis A. Kaplan and began deliberations. Sassoon said Bankman-Fried turned his customers' accounts into his "personal piggy bank" as up to $14 billion disappeared.She urged jurors to reject Bankman-Fried's insistence when he testified over three days that he never committed fraud or plotted to steal from customers, investors and lenders and didn't realize his companies were at least $10 billion in debt until October 2022.Bankman-Fried was required to stand and face the jury as guilty verdicts on all seven counts were read. He kept his hands clasped tightly in front of him. When he sat down after the reading, he kept his head tilted down for several minutes.After the judge set a sentencing date of March 28, Bankman-Fried's parents moved to the front row behind him. His father put his arm around his wife. As Bankman-Fried was led out of the courtroom, he looked back and nodded toward his mother, who nodded back and then became emotional, wiping her hand across her face after he left the room.U.S. Attorney Damian Williams told reporters after the verdict that Bankman-Fried "perpetrated one of the biggest financial frauds in American history, a multibillion-dollar scheme designed to make him the king of crypto."$BNB "But here's the thing: The cryptocurrency industry might be new. The players like Sam Bankman-Fried might be new. This kind of fraud, this kind of corruption is as old as time, and we have no patience for it," he said.Bankman-Fried's attorney, Mark Cohen, said in a statement they "respect the jury's decision. But we are very disappointed with the result.""Mr. Bankman Fried maintains his innocence and will continue to vigorously fight the charges against him," Cohen said.The trial attracted intense interest with its focus on fraud on a scale not seen since the 2009 prosecution of Bernard Madoff, whose Ponzi scheme over decades cheated thousands of investors out of about $20 billion. Madoff pleaded guilty and was sentenced to 150 years in prison, where he died in 2021.The prosecution of Bankman-Fried, 31, put a spotlight on the emerging industry of cryptocurrency and a group of young executives in their 20s who lived together in a $30 million luxury apartment in the Bahamas as they dreamed of becoming the most powerful player in a new financial field.Prosecutors made sure jurors knew that the defendant they saw in court with short hair and a suit was also the man with big messy hair and shorts that became his trademark appearance after he started his cryptocurrency hedge fund, Alameda Research, in 2017 and FTX, his cryptocurrency exchange, two years laterThey showed the jury pictures of Bankman-Fried sleeping on a private jet, sitting with a deck of cards and mingling at the Super Bowl with celebrities including the singer Katy Perry. Assistant U.S. Attorney Nicolas Roos called Bankman-Fried someone who liked "celebrity chasing."In a closing argument, defense lawyer Mark Cohen said prosecutors were trying to turn "Sam into some sort of villain, some sort of monster.""It's both wrong and unfair, and I hope and believe that you have seen that it's simply not true," he said. "According to the government, everything Sam ever touched and said was fraudulent."The government relied heavily on the testimony of three former members of Bankman-Fried's inner circle, his top executives including his former girlfriend, Caroline Ellison, to explain how Bankman-Fried used Alameda Research to siphon billions of dollars from customer accounts at FTX.With that money, prosecutors said, the Massachusetts Institute of Technology graduate gained influence and power through investments, contributions, tens of millions of dollars in political contributions, congressional testimony and a publicity campaign that enlisted celebrities like comedian Larry David and football quarterback Tom Brady.#tia Ellison, 28, testified that Bankman-Fried directed her while she was chief executive of Alameda Research to commit fraud as he pursued ambitions to lead huge companies, spend money influentially and run for U.S. president someday. She said he thought he had a 5% chance to be U.S. president someday.Becoming tearful as she described the collapse of the cryptocurrency empire last November, Ellison said the revelations that caused customers collectively to demand their money back, exposing the fraud, brought a "relief that I didn't have to lie anymore."FTX cofounder Gary Wang, who was FTX's chief technology officer, revealed in his testimony that Bankman-Fried directed him to insert code into FTX's operations so that Alameda Research could make unlimited withdrawals from FTX and have a credit line of up to $65 billion. Wang said the money came from customers.Nishad Singh, the former head of engineering at FTX, testified that he felt "blindsided and horrified" at the result of the actions of a man he once admired when he saw the extent of the fraud as the collapse last November left him suicidal.#FTX's Ellison, Wang and Singh all pleaded guilty to fraud charges and testified against Bankman-Fried in the hopes of leniency at sentencing.Bankman-Fried was arrested in the Bahamas in December and extradited to the United States, where he was freed on a $250 million personal recognizance bond with electronic monitoring and a requirement that he remain at the home of his parents in Palo Alto, California.His communications, including hundreds of phone calls with journalists and internet influencers, along with emails and texts, eventually got him into trouble when the judge concluded he was trying to influence prospective trial witnesses and ordered him jailed in August.$USDC During the trial, prosecutors used Bankman-Fried's public statements, online announcements and his congressional testimony against him, showing how the entrepreneur repeatedly promised customers that their deposits were safe and secure as late as last Nov. 7 when he tweeted, "FTX is fine. Assets are fine" as customers furiously tried to withdraw their money. He deleted the tweet the next day. FTX filed for bankruptcy four days later.$MEME In his closing, Roos mocked Bankman-Fried's testimony, saying that under questioning from his lawyer, the defendant's words were "smooth, like it had been rehearsed a bunch of times?"But under cross examination, "he was a different person," the prosecutor said. "Suddenly on cross-examination he couldn't remember a single detail about his company or what he said publicly. It was uncomfortable to hear. He never said he couldn't recall during his direct examination, but it happened over 140 times during his cross-examination."#CryptoMoj Former federal prosecutors said the quick verdict — after only half a day of deliberation — showed how well the government tried the case."The government tried the case as we expected," said Joshua A. Naftalis, a partner at Pallas Partners LLP and a former Manhattan prosecutor. "It was a massive fraud, but that doesn't mean it had to be a complicated fraud, and I think the jury understood that argument.#CryptoNews🔒📰🚫