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FTT, the native token of the FTX ecosystem, rallied by 180% last week, emerging as one of the top performers. The rally, Kaiko, a blockchain analytics platform observes, was primarily due to comments by the stringent United States Securities and Exchange Commission (SEC) leader that the FTX 2.0 relaunch is possible.&nbsp; 
<h2 id="ftt-soaring-on-hopes-of-ftx-relaunching">FTT Soaring On Hopes Of FTX Relaunching</h2> 
In an X post on November 14, Kaiko also&nbsp;<a class="editor-rtfLink" href="https://twitter.com/KaikoData/status/1724414096202727486" target="_blank" rel="noopener nofollow">notes</a>&nbsp;that related FTT trading volume soared, signaling possible accumulation by traders and believers of <a href="https://www.newsbtc.com/news/solana/solana-flying-bulls-post-ftx-collapse-losses-reversed/" target="_blank" rel="noopener ">FTX</a>. At spot rates, FTT trading volume, looking at how the token performs in Binance, one of the leading cryptocurrency exchanges, remains elevated at November 2022 levels.&nbsp; 
<img loading="lazy" decoding="async" class="size-full wp-image-560699" src="https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553" alt="FTT trade volume and price | Source: Kaiko on X" width="1024" height="553" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=1548 1548w, https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/F-5ZP6-WcAAFaK_.jpeg?resize=1024%2C553?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
In November 2022, FTX, led by Sam Bankman-Fried, filed for Chapter 11 bankruptcy protection at the United States Bankruptcy Court for the District of Delaware. 
Related Reading: <a href="https://www.newsbtc.com/analysis/xrp/blackrock-xrp-etf-filing/" target="_blank" rel="noopener ">BlackRock’s XRP ETF Filing, Everything You Need To Know</a> 
Before this bankruptcy filing, FTT, which served several purposes in the FTX ecosystem, acting as a governance token and providing access, plunged in early November following allegations that the exchange had misappropriated user funds. There was a significant collapse on November 8 when FTT fell by 90%, taking the coin from around $22 to as low as $2. <a href="https://www.tradingview.com/x/7OAXzZSR/" rel="nofollow"><img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/7OAXzZSR/" alt="FTT price trending upward on the daily chart | Source: FTTUSDT on Binance, TradingView" width="1233" height="592"></a> 
FTT is trading at around $3.22, up 232% from October 2023 lows, looking at the performance in the daily chart. As fundamental events around FTX unfold, FTT’s trading volume also rises. 
<h2 id="compliance-with-the-law-is-crucial-sec-chairperson">Compliance With The Law Is Crucial: SEC Chairperson</h2> 
There could be more gains for FTX in the days ahead should there be more solid news of an FTX 2.0 relaunch following Gary Gensler’s comments last week. Then, Gensler <a href="https://www.cnbc.com/2023/11/08/secs-gensler-says-rebooted-ftx-is-possible-if-done-within-the-law.html" target="_blank" rel="noopener nofollow">told</a> CNBC that a revived FTX could see the light of day if only leaders taking over clearly understood existing laws.&nbsp;&nbsp; 
The SEC chairperson’s comments follow speculations that the former New York Stock Exchange (NYSE) president, Tom Farley, is among the three bidders planning to buy FTX.&nbsp; 
<blockquote>
 “If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law. Build investors’ trust in what you’re doing and ensure that you’re doing the proper disclosures — and also that you’re not commingling all these functions, trading against your customers. Or using their crypto assets for your purposes.”&nbsp;
</blockquote> 
A jury in early November found Sam Bankman-Fried, the former CEO of FTX, <a href="https://www.newsbtc.com/ftx/sam-bankman-fried-jail/" target="_blank" rel="noopener ">guilty</a> of all criminal charges, including wiring fraud and money laundering. Bankman-Fried is set for sentencing in March 2024.

Is Buying FTT Now A Once-In-A-Life Opportunity For FTX Believers?

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