FTT - Why the FTX Token Is Up Big Thursday Afternoon
Despite the fact that FTX continues to be in serious financial trouble , the FTX Token (CRYPTO: FTT) us up 16.5% in the past 24 hours as of 3:50 p.m. ET.
The token's low price in the last 24 hours is $2.06, which came after Binance said it wouldn't complete an acquisition of FTX.
It was only Tuesday that FTX ran into clear liquidity problems and turned to Binance for a potential buyout. Binance signed a letter of intent, but still needed to look at FTX's books before closing a deal. Ultimately, Binance didn't like what it saw and by early Thursday the deal was off, sending FTX Token into free fall.
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Why the FTX Token Is Up Big Thursday Afternoon