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FTT

FTT Surges 13% on FTX Investors to Settle With Sam BankmanA group of FTX investors have filed a court document to settle with Sam Bankman-Fried, the founder and former CEO of FTX, under the condition that he provides relevant information about key firms and celebrities related to the defunct exchange before its collapse. The settlement terms include proof that Bankman-Fried's net worth is negative. If approved by the court, the agreement would discharge all claims against Bankman-Fried. According to a Bloomberg report, Bankman-Fried has agreed to cooperate with the class representatives to strengthen their case against celebrity promoters of FTX by providing confidential information about their involvement in raising FTX ratings before its eventual collapse in 2022. The list of celebrities includes Shaquille O'Neal, Stephen Curry, Lawrence Gene David, Tom Brady, Gisele Bundchen, and organizations such as MBA's Miami Heat franchises, SoftBank Group, Paradigm Operations LP, and many more. The agreement mandates that Bankman-Fried release certain documents alongside evidence of these people and organizations' involvement with FTX. He will also provide a financial statement of all his current assets and a sworn affidavit of all his financial assets, including an affidavit stating that his net worth is negative. The settlement comes after US Senator Elizabeth Warren demanded a full account of the several meetings between the head of the US Commodity & Futures Trading Commission (CFTC), Rostin Behnam, and Bankman-Fried before the FTX implosion. Bankman-Fried was convicted of wire fraud, securities fraud, and money laundering in November 2023, and on March 28, he was sentenced to 25 years in prison, with a forfeiture of $11 billion worth of assets to fund the repayment of the victims of the FTX collapse.
Long
by DEXWireNews
FTT/USDT Ready to Resume its Bullish Journey? 👀🚀 FTT Analysis💎Paradisers, keep an eye on #FTTUSDT. It’s at a key point, testing the support at $1.65. If it keeps going up, we could see a price jump. 💎The first resistance target is at $2.39 for the FTT. If the asset manages to Break this level it could lead to even bigger gains. 💎If #FTXToken starts to drop at this support level, we’re ready for a bounce back from a deeper support at $1.40. This area is known for its high trading volume and has often led to big upward moves for $FTT. 💎If the price falls below this extra support level, it could mean a shift to a bearish market, with more selling. Stay alert and flexible as we follow the changes in the #FTT market. Disclaimer : The token, #FTT, is associated with the FTX exchange. Please proceed with caution and conduct thorough research before trading.
Long
by MyCryptoParadise_Simon
FTX Founder Sam Bankman-Fried Sentenced to 25 yearsIn a shocking turn of events, cryptocurrency mogul Sam Bankman-Fried, the founder of FTX, has been handed a hefty 25-year prison sentence for charges including fraud and money laundering. The sentencing, delivered by Judge Lewis A. Kaplan in Manhattan federal court, marks a dramatic chapter in the saga of FTX's downfall. Witness testimonies during the trial painted a grim picture of FTX's inner workings, revealing a culture of risky financial practices and lax oversight. These revelations, coupled with damning evidence presented by prosecutors, led to Bankman-Fried's conviction on seven charges, sealing his fate for the next quarter-century. Prior to sentencing, Bankman-Fried offered a heartfelt apology to those affected by FTX's collapse, acknowledging the profound loss of trust and financial devastation endured by customers, investors, and employees alike. However, his apology could not sway the court from holding him accountable for his role in the debacle. The fallout from Bankman-Fried's sentencing extends far beyond the courtroom, sparking debates about the need for tighter regulatory oversight in the cryptocurrency industry. Many see this case as a cautionary tale, highlighting the potential risks inherent in unregulated financial markets. As FTX grapples with bankruptcy proceedings to recover lost funds and compensate creditors, the broader cryptocurrency community faces a reckoning. The episode serves as a stark reminder of the importance of transparency, accountability, and regulatory scrutiny in safeguarding investors and preserving trust in the digital asset landscape. But the question remains is there hope for TSX:FTT ? As regards the sentencing, the TSX:FTT token plummets by 4.72% trading below its respective moving averages. With a weak Relative Strength Index (RSI) of 45.
Short
by DEXWireNews
1
Alikze »» FTT | Completing the last corrective legIn the daily and weekly time, after a deep correction, it recovered a full movement cycle and then corrected the previous wave in the form of a double correction of 0.23 fibo. It is currently completing the microwaves, wave 2 of 3. 🔰 Therefore, I expect that no new floor will be created in the first phase. 🔰 In the second phase, this movement can continue its growth at least up to the range of 4.74. If it can break the first target, this ascending wave 3 or C will have the ability to reach the resistance targets specified on the chart. However, moving up to Fibo 1.618 can move the important supply area and the beginning of a deep correction. ⚠️ In addition, if it penetrates and stabilizes below Fibo 0.23, this movement scenario will be invalid. 🟩Sup:1.50 ⛳️Tp1 : 4.74 ⛳️Tp2 : 9.16 ⛳️Tp3 : 20.84 ⛳️Tp4 : 29.52 »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
1
FTT on the Horizon: Market Analysis and ProjectionsTechnical Analysis Overview Current Price : $3.7605 Weekly Trend : A decrease of 27.10%, indicating recent bearish sentiment. 1-Month Trend : An increase of 8.98%, showing some recovery. 6-Month and Yearly Trends : Impressive growth of 289.95% and 260.09%, respectively, highlighting a strong bullish trend in the medium to long term. Advanced Technical Indicators Relative Strength Index (RSI) : Approaching overbought territory, signaling a potential reversal or consolidation in the short term. Moving Average Convergence Divergence (MACD) : Suggests a bullish crossover, indicating strong buying momentum. Chart Patterns and Analysis Bullish Triangle Pattern : Indicating a potential breakout and continuation of the uptrend. Falling Wedge Patterns : Multiple patterns suggest a diminishing selling pressure and a possible trend reversal. Unique Insights Potential for a Major Rally : Analysts have identified key levels for a potential 10x payout, suggesting that FTT might be gearing up for a significant rally. Impact of External News : News flow and external events, such as regulatory changes or developments within the FTX ecosystem, can have a substantial impact on FTT's price. Keeping an eye on these factors is crucial for understanding potential market movements. Market Sentiment and External Factors Market Capitalization : $1.234B USD. Trading Volume Analysis : High trading volume of $191.331M USD with a significant volume/market cap ratio. Recent News Coverage Impacting FTT FTX Trading and FTX Digital Markets Settlement ( PYMNTS.com ): A unified approach to valuing customer claims could impact FTT's valuation and distribution. Valuation Rules Set by FTX and Bahamas Liquidators ( Bloomberg.com ): Crucial for determining the valuation of FTT in bankruptcy proceedings. Unified Asset Distribution Deal ( CryptoSlate ): Streamlining the asset distribution process within the FTX ecosystem. FTX's Bankruptcy Exit Plan ( Banking Dive ): Involves valuing assets at their November 11, 2022, rate, affecting FTT's value. FTX's Crypto Asset Liquidation ( Watcher Guru ): The liquidation of $240 million worth of crypto assets, including FTT, could influence its market price. Conclusion FTT presents a complex picture with both short-term bearish and long-term bullish trends. The technical indicators suggest strong buying momentum, but overbought conditions signal caution. The recent news, particularly the settlement and bankruptcy proceedings, directly impacts the valuation and liquidity of FTT.
Long
by Terrapins
5
Hey Guys, Insider here.Like it or not, but history always repeats itself. Banks and goverments always will be letting you down. You're always will see more people trusting btc instead. Dollars will always go down. Even if sometimes they will go up a lil bit coz of rate hikes in 2023. Bulls always will be winning. They believe in constant evolution. This is inevitable (until it's not though) Pigs always will be driven by emotions and fears. Bears always will be crushing a party, but Bears lives are short. Scammers always will scam and get jailed. Shitcoins always will be full of shit, unless a few one. Elon Musk will never reach Mars. You're will keep working in MCD. Justin Sun will be always screwing your wife. It is what it is.
BITSTAMP:BTCUSDLong
by WagsCapital
8
FTX Can Now Sell Its $1B Stake in Anthropic to Repay CreditorsThe saga surrounding FTX's bankruptcy and subsequent efforts to repay creditors has taken another intriguing turn as a federal bankruptcy court approves the sale of the collapsed exchange's $1 billion stake in Anthropic, the AI company behind the Claude models. This move not only signifies a significant step in FTX's restructuring efforts but also sheds light on the evolving landscape of AI valuation amidst financial turmoil. 1. FTX's Bankruptcy Fallout and Clawback Strategy: Following FTX's industry-shaking collapse in 2022, the exchange has been navigating a complex bankruptcy process aimed at repaying creditors. One of the pivotal strategies employed by FTX ( TSX:FTT ) has been clawbacks, wherein assets like Anthropic shares are liquidated to recover funds for debt repayment. 2. Approval from Federal Bankruptcy Court: The recent approval by the U.S. Federal Judge John Dorsey to sell FTX's $1 billion stake in Anthropic comes after thorough scrutiny and highlights the court's acknowledgment of the necessity to settle outstanding debts. 3. FTX's Previous Attempts and Legal Clearance: FTX's earlier attempts to sell its Anthropic shares through financial services company Perella Weinberg Partners were met with regulatory hurdles and legal complexities. However, with the clearance from the U.S. Department of Justice, citing the irrelevance of FTX's Anthropic investment to the case against its founder, Sam Bankman-Fried, the path has been cleared for the sale. 4. AI Valuation Dynamics: A notable aspect of this development is the valuation trajectory of Anthropic shares. From an initial worth of $500 million at the time of the launch of Claude 2 AI model to doubling in value to reach $1 billion, it reflects the dynamic nature of AI valuation in the market. 5. FTX's Asset Portfolio and Solvency Measures: - The sale of Anthropic shares adds to FTX's asset liquidation efforts, which include the previous sale of Ledger X to M7 Holdings for $50 million. Furthermore, court documents revealing FTX's holdings in Solana, Ethereum, Bitcoin, and other assets underscore the comprehensive approach undertaken by the exchange to navigate its solvency challenges. Conclusion: As FTX ( TSX:FTT ) progresses in its bankruptcy proceedings, the approval to sell its $1 billion stake in Anthropic marks a significant milestone. Beyond the financial intricacies, this development offers insights into the valuation dynamics of AI companies amidst tumultuous market conditions. With each step, FTX ( TSX:FTT ) inches closer to its goal of repaying creditors and charting a new course in the ever-evolving landscape of cryptocurrency exchanges. By delving into the intricacies of FTX's bankruptcy, the dynamics of AI valuation, and the broader implications for the cryptocurrency industry, this article provides a comprehensive analysis of the recent developments surrounding FTX's $1 billion stake in Anthropic.
Long
by DEXWireNews
FTT/USDT Local trend (Binance trimmed chart) 30 11 2023Logarithm. Time frame 1 day. On the chart I put a screenshot of the missing part of the Binance chart from my closed learning/work idea on this coin, which I have been trading for almost a year (published 5 01 2023). In those 11 months, 47 local work updates . FTT/USD Super Risk - Super Profit. FTT hearing dates Manipulation . On the one hand the Binance exchange is not cheating, because trading was actually stopped on November 15, 2022 of this FTT/USDT trading pair and re-launched on September 22, 2023. Left on this exchange was the FTT/BUSD trading pair that was recently delisted, with the entire chart history (emphasis mine). A person looking at the chart for the first time would not see this clever, honest forgery on it. That is, no price chart and a pump/dump of a horizontal channel with a 237% pitch and a duration of exactly 311 days, and 3 significant pump ups in that channel range. This is a 4 and possibly an exit from it, at least this triangle is formed above its resistance. It is worth noting that if you now decide to work with this coin, remember that the price is now at +263% of the average price of the local set. Therefore, limit your risks. Linear of this zone looks like this .
by SpartaBTC
13
FTT update 04feb24SOOO... it iz a great manipulation through da newz, its so unhonest imo, bot it workz. price goez down (and I lost some also, damn) and we are now in buyin' area. Consider the structure, I can count two optionz: FIRST iz a red numbaz, AKAI in japanese :) diagonal+WXY+diagonal\impulse. Its not looks like an Impulse, so I suggest Endin' Diagonal. SECOND iz yellow and backup variant, zigzag with Triangle (in that way I need to recount Wave (A), but its possible to make an multiple ZIGZAG there. thrid also iz here, az always - its a scam and we all die) but I hardly doubt it. OH YEAH BTW - coz Wave (3) was extended, correction till Wave 4.of.(1) iz possible (green line) AND yeaa -we need some divergence on high timeframe (4h+) to be sure that option 3 will not work :)
Long
by zikkuratt
2
FTX Exchange Confirms No Relaunch Ahead In a shocking turn of events, $FTX, once touted as a promising cryptocurrency exchange, has officially abandoned its efforts to restart operations. The company's decision comes amid months of negotiations with potential investors, all of whom were reluctant to inject the necessary funds to rebuild the beleaguered exchange. $FTX's downfall has exposed a trail of deception, with founder Sam Bankman-Fried convicted on fraud charges, revealing a troubling lack of infrastructure and responsibility behind the scenes. The Unraveling of $FTX: The revelation by $FTX attorney Andy Dietderich paints a grim picture of the exchange, labeling it an "irresponsible sham" orchestrated by a convicted felon. The inability to secure sufficient investment underscores deeper issues, as it becomes apparent that $FTX lacked the foundational technology and administration required to sustain itself as a legitimate business. The fallout from these shortcomings has left 9 million customers in the lurch, facing potential losses running into the billions. Bankruptcy Proceedings: $FTX's decision to opt for liquidation instead of a restart signals a turbulent end to a once-prominent player in the cryptocurrency landscape. With over $7 billion in recovered assets, the company aims to repay its customers in full, though complications arise as the repayment will be based on cryptocurrency prices from November 2022, a period when the crypto market was mired in a prolonged slump. This decision has sparked dissatisfaction among customers, who argue that using outdated prices shortchanges them, especially considering the significant rise in Bitcoin's value since November 2022. Legal Battles and Customer Dissatisfaction: The legal battle surrounding $FTX intensifies as founder Sam Bankman-Fried faces sentencing on March 28 after being convicted on seven counts of fraud and conspiracy. Meanwhile, customers expressing frustration over the use of 2022 prices face a setback as U.S. Bankruptcy Judge John Dorsey overruled their complaints, citing the inflexibility of bankruptcy law. Despite the clear discontent among users, the road to repayment remains uncertain, with $FTX emphasizing the need to thoroughly investigate legitimate claims before disbursing funds. Conclusion: The $FTX saga serves as a cautionary tale for the cryptocurrency industry, underscoring the importance of transparency, responsible management, and regulatory compliance. The fallout from $FTX's demise not only highlights the risks inherent in the volatile crypto market but also raises questions about the viability of other platforms. As the cryptocurrency landscape evolves, the $FTX case will likely be scrutinized for lessons on preventing future instances of fraud, deception, and the resulting turmoil for users and investors alike.
Short
by DEXWireNews
FTX's Remarkable Turnaround: Cash Reserves Double to $4.4 BilBankrupt crypto exchange $FTX has witnessed a remarkable financial turnaround as it strategically unloads its crypto holdings, doubling its cash reserves to an impressive $4.4 billion within just two months. The Journey to Financial Recovery: $FTX's bankruptcy estate has been on a strategic mission to fortify its financial position by shedding crypto assets. According to Chapter 11 monthly operating reports, advisors overseeing the process successfully sold crypto from the FTX group's four largest affiliates, namely FTX Trading, Alameda Research, West Realm Shires Inc, and Clifton Bay Investments. This effort resulted in a substantial increase in cash reserves, surging from $2.3 billion in October to an impressive $4.4 billion by December 2023. Key Entities Involved: West Realm Shires Inc, the holding company of FTX's U.S.-based entity FTX.US, and Clifton Bay Investments, a company associated with FTX Ventures, played pivotal roles in this financial maneuver. Alameda Research, a significant player in the crypto space, also contributed to the initiative. The strategic decisions made by these entities have not only bolstered FTX's financial standing but have also raised questions about their broader impact on the crypto market. Crypto Outflows and Legal Developments: Since gaining approval to sell its crypto holdings in September, the FTX bankruptcy estate has been actively managing its assets. Reports suggest that FTX's wallets have been transferring funds to other exchanges while unstaking substantial amounts from crypto staking platforms. Notably, the FTX estate has been linked to nearly $1 billion worth of outflows from the Grayscale Bitcoin Trust (GBTC) in the initial days of the trust's transition into an exchange-traded fund (ETF). Legal complexities have also marked FTX's journey, with Alameda Research voluntarily dismissing a lawsuit against GBTC issuer Grayscale. The lawsuit, initially filed over an alleged "improper redemption ban" on GBTC shares, adds an intriguing layer to FTX's overall narrative. Challenges from Customers: Despite the positive strides in recovering value through liquid assets, $FTX faces challenges from some customers who contest the valuation of their claims. The current methodology pegs the value of customer funds to the asset prices at the time of FTX filing for Chapter 11 Bankruptcy. Given the significant surge in Bitcoin's price, up 150% since that date and currently trading at around $43,072, some customers are raising concerns about the fairness of this valuation approach. Conclusion: $FTX's journey from bankruptcy to doubling its cash reserves highlights the dynamism of the crypto market and the strategic decision-making within the industry. As the exchange navigates legal complexities, customer challenges, and market dynamics, the crypto community watches with anticipation to see how $FTX's recovery efforts will continue to shape the landscape of the digital asset space.
Long
by DEXWireNews
FTX's Rocky Road to RedemptionNavigating the Aftermath of a $8 Billion Fraud Case" The collapse of FTX in 2022 sent shockwaves through global financial markets. The once-prominent crypto exchange faced an $8 billion fraud case, resulting in a cascade of events that not only shook investor confidence but also sparked a series of legal battles. Now, FTX is taking a bold step towards redemption by liquidating its crypto assets to repay former customers, marking a pivotal moment in its journey to recover from the aftermath of the crash. The "Sell-to-Pay" Strategy: In an effort to reduce its staggering debt and regain trust, FTX is adopting a "sell-to-pay" strategy. Reports from Bloomberg indicate that the embattled crypto exchange is offloading assets related to cryptocurrencies, aiming to generate a substantial cash reserve. The group's cash hoard has already doubled to $4.4 billion by the end of 2023, showcasing a determined push to settle outstanding debts and rebuild its financial foundation. Ongoing Legal Battles: FTX's path to recovery is not without hurdles. Legal disputes stemming from the $8 billion fraud case loom large, with the majority of the exchange's assets lost as a result. Despite the setback, FTX is gearing up to file lawsuits in a bid to recover every penny spent during the crisis. If successful, the potential recovery of billions of dollars could be a game-changer for the debt-ridden exchange operator. User Struggles and Repayment Tussles: Since the 2022 crash, FTX has been grappling with efforts to strike deals with its former customers. Investors who had their accounts frozen during the collapse have engaged in prolonged battles to reach agreements. A key point of contention has been the terms of repayment, with former users pleading with judges to alter regulations they deemed unjust. The struggle between FTX and its users reflects a tug of war, symbolizing the challenges faced in rebuilding trust within the crypto community. Market Ripple Effect: The collapse of FTX reverberated beyond the cryptocurrency realm, creating a ripple effect in global financial markets. Concerns over dubious financial assessment methods and FTX's close association with Alameda triggered a wave of customer withdrawals, sending both companies into bankruptcy. The cryptocurrency market, valued at less than $1 trillion after the crash, lost billions of dollars. The stock market, too, traded in the red for weeks, with investor sentiments denting for an extended period. CEO's Verdict and Individual Wealth Wipeout: Following a month-long trial, the CEO of FTX was found guilty of accusations related to the crash. This individual event resulted in the wiping out of approximately $26 billion in individual wealth, as reported by Reuters. The CEO's conviction added a layer of complexity to FTX's already challenging journey toward recovery. Conclusion: As FTX navigates the aftermath of its $8 billion fraud case, the exchange is employing a multifaceted approach involving asset liquidation, legal battles, and attempts to rebuild user trust. The impact of FTX's crash on global financial markets serves as a cautionary tale, highlighting the interconnectedness of the cryptocurrency space with broader economic landscapes. Only time will reveal if FTX's restructuring proposals and legal pursuits will lead to a successful resurgence or if the shadows of its past will continue to cast a long-lasting impact on its future.
Long
by DEXWireNews