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 <p class="is-style-lead">FTT has seen an astonishing rally, rising 176% over the last seven days to $3.27 despite being the native <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> of the now-bankrupt crypto <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> FTX.</p>
 <p>This surge comes amid renewed speculation that FTX could make a comeback under new leadership. YouTube crypto analyst Aaron Barrett pointed out Gary Gensler’s stance on the matter. The SEC chair said during an interview that FTX US may have a future if it can attract well-capitalized owners. His comments sparked a renewed buying frenzy.</p>
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  <div class="wp-block-embed__wrapper"><iframe title="FTX Updates: Why &quot;FTX 2.0&quot; Is Pumping FTT Token 400% &amp; ByBit's Fraudulent Transfers" width="1020" height="574" src="https://www.youtube.com/embed/lrx4_x8x8hY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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 <p>According to Bennett, three potential bidders are looking to acquire FTX: former NYSE President Tom Farley’s Bullish <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>, fintech startup Figure Technologies, and venture capital firm Proof Group.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> FTX token and other Sam Coins surge after Bankman-fried’s conviction
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 <p>The possibility of FTX relaunching with new owners has revived hope that FTT may retain value in a rebranded <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>. However, some experts warn that a relaunched FTX is unlikely to use FTT, given its association with the spectacular collapse.</p>
 <p>Nonetheless, traders seem to be betting on FTT if it is returned in some capacity. SEC Chair Gensler’s remarks are “ironic,” notes Bennett, as simply the suggestion of reviving FTX prompted a 4X price surge. In reality, FTT currently has no utility, as FTX is shut down.</p>
 <p>For now, the feverish rally continues. However, analysts caution that FTT remains a highly risky bet, given regulatory uncertainty and the early stages of FTX’s bankruptcy proceedings. The <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>’s long-term viability is still very much in question.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Former FTX execs launch exchange in wake of fraud scandal
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-token-rises-sharply-on-hopes-of-exchange-s-rebirth-tbt70214.html">https://thebittimes.com/ftx-token-rises-sharply-on-hopes-of-exchange-s-rebirth-tbt70214.html</a></p>

FTX token rises sharply on hopes of exchange’s rebirth

TheBitTimes

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