• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
FTT FTX FTXUSDT

FTT Token Surges 45% As Crypto Exchange FTX Explores Reboot

Reynaldo Marquez by Reynaldo Marquez
2 months ago
in Breaking News Ticker
Reading Time: 2 mins read

Failed crypto exchange FTX’s native token, FTT, is expiring upside volatility, recording important profits over today’s trading session. The token is reacting to the news of FTX’s potential relaunch.

Related Reading: Over 3,000 Validators To Withdraw After Ethereum Shanghai Upgrade

As of this writing, FTT is trading north of $2 for the first time since February and could continue to reclaim previously lost territory. The token moved sideways for months, and today’s news was the first time it recorded positive price action.

FTT FTX FTTUSDT
FTT’s price sees some positive performance over today’s trading session on the daily chart. Source: FTTUSDT Tradingview

FTX To Relaunched? FTT Traders Go Long

According to a report from Reuters, FTX’s bankruptcy proceedings have been partially successful. The company’s new administration recovered $7,3 billion in fiat and digital assets, according to FTX attorney Andy Dietderich, that testified in a U.S. bankruptcy court hearing.

This amount represents an increase of around $1 billion in the company’s effort to recover its users’ funds. The failed crypto exchange is evaluating its options after spending months “collecting resources” and trying to figure out what went wrong under the previous administration, led by its founder Sam Bankman-Fried.

In that sense, Dietderich claims that the company overcame the “worst” of its situation and can start thinking about re-opening operations. FTX’s new CEO, John Ray, has been hinting at relaunching the crypto exchange for some time.

In an interview with the Wall Street Journal, Ray said the measure could allow them to “recoup value” for their clients. A separate report from CNBC claims that FTX’s intentions are “unclear” as the new administration needs to provide further details about a potential reboot.

If FTX returns, can users withdraw their money and trade with digital assets, or will the company attempt to become profitable to repay its debts to creditors?  These issues and others related to taxation, security, and user experience still need to be answered.

Daniel Tramel Stabile, a partner at law firm Winston & Strawn, told CNBC the following:

When we talk about restarting — rebooting — it’s not totally clear what they have in mind. There could be a rebooting in the sense of reopening the exchange with a limited purpose for getting assets off the exchange.

Related Reading: Shiba Inu Community Destroys 35 Million SHIB, Will It Shift The Momentum?

The market is reacting positively to the news, despite the unclear issues. FTX’s FTT continues to trend to the upside and breached critical resistance at $2.17; if the uptrend continues, the token might target $2.70 for the first time in 2023.

Tags: FTTFTTUSDTFTX
Tweet123Share196ShareSend
Reynaldo Marquez

Reynaldo Marquez

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Related Posts

Coinbase

Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers

1 day ago
Cardano ADA Whales Accumulating

Cardano (ADA) A Security? Price Collapses On SEC v. Binance Lawsuit

2 days ago
Bitfinex BTC BTCUSDT

Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America

2 weeks ago
Citadel Crypto BTCUSDT

Citadel Strikes Back: Sues Crypto Executives Over Trading Secrets

3 weeks ago
World Coin Sam Altman ChatGPT

ChatGPT Creator’s Latest Project: World Coin Launches Crypto Wallet

1 month ago
PEPE

BREAKING: Binance Lists PEPE And FLOKI In Innovation Zone

1 month ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    1 week ago
  • Willing to buy new crypto: Here are the best 10...

    1 week ago
  • Best Crypto Meme Coin Presales in 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Bitfinex and GoCrypto announce the listing of the GoC token

    11 hours ago
  • Fetch (FET) and InQubeta (QUBE) Overtake AltSignals in the...

    11 hours ago
  • Atomic Wallet Hack Reiterates Importance of AI Cryptos To...

    13 hours ago
  • How to Save On Trading Fees Using the Best Analytic...

    14 hours ago
  • Missed out on Miladys (LADYS)? Don’t Fade Uwerx...

    16 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.