FTX exchange collapse leads to 80% drop in FTT token value, $2 billion loss for customers

From CoinTelegraph
Date: September 28, 2024
Time: 2:58 PM:

The FTX exchange collapse led to an 80% drop in the FTT token’s value, resulting in a loss of over $2 billion in customer funds.

Investors faced significant losses as the FTT token plummeted following the FTX exchange’s collapse, highlighting the risks associated with investing in cryptocurrencies and exchanges.

The sharp decline in the FTT token’s value underscores the volatility in the cryptocurrency market and serves as a reminder of the potential risks and challenges investors face when trading digital assets.

Read more at Cointelegraph: FTX creditors only getting ’10-25% of their crypto back’ — creditor