Token

Satoshi

FTX Token

Drops

Daily

<ul class="wp-block-list">
 <li>The FTX token recorded a 10.18% drop in price in the last 24 hours.</li>
 <li>Former FTX executive Ryan Salame began his prison term on October 7.</li>
</ul>
Satoshi Nakamoto’s identity and the HBO documentary are the day’s talks for the crypto community. The HBO documentary has attempted to uncover the true identity of the creator of Bitcoin. Meanwhile, Ryan Salame, the former FTX executive’s 7-and-a-half-year prison sentence began in the past day.&nbsp;
In reflection, the FTX token has shown significant drops in the last 24 hours. The token recorded a 10.18% drop despite a brief attempt at recovery. At the beginning of the day, FTT traded at $2.48, however in the progressive hours, bearish candles took over. At the time of writing, FTT was trading at $2.24 as per CMC <a href="https://coinmarketcap.com/currencies/ftx-token/" target="_blank" rel="noopener noreferrer nofollow">data</a>.&nbsp;
Moreover, in the past month, the altcoin has shown intriguing price activities fueled by the exchange’s anticipations around repayments and reorganization plans. On inferring its weekly price charts, FTT shows a 3.95% price increase. This results from the past few days of surge in prices. Notably, on October 7, the token hit a 269-day high of $3.43.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcBsRhn8qkOCaNkoEQ6XBpgftneeIiPsZaZuBOgyLlMCIjZfzFpZfI6TltWty_HIiYddDrytrw6McPuvwF_LHBrpoCl_S2ws9dfi2jQg3PXDor9l20H6pkKJz6WM-MmblXpC7HZ83Aa1yVE2ttn9qsdYtx6?key=ViG64UZUM_nSfQQsfhF5AQ" alt="">
 <figcaption class="wp-element-caption">FTT/USDT Daily Price Chart (Source: <a href="https://www.tradingview.com/symbols/FTTUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Additionally, the token’s RSI stands at 59.04 indicating neutral market sentiments. However, the FTX token briefly visited the overbought situation in the past few days as per TradingView data. Meanwhile, as aforementioned, FTT has shown high volatility as indicated by the RVI standing at 50.53.&nbsp;
<h3 class="wp-block-heading" id="h-what-does-ftx-executive-ryan-salame-s-imprisonment-entail-nbsp">What Does FTX Executive Ryan Salame’s Imprisonment Entail?&nbsp;</h3>
The <a href="https://thenewscrypto.com/fbi-raids-house-of-former-co-ceo-of-ftxs-bahamas-subsidiary/" target="_blank" rel="noopener noreferrer nofollow">former executive</a> of FTX exchange, Ryan Salame pleaded guilty to making millions of dollars from unlawful campaign donations. The executive received a prison sentence of seven and a half years in May. His prison sentence began on October 7, for which Salame has <a href="https://x.com/rsalame7926/status/1842834100475834552" target="_blank" rel="noopener noreferrer nofollow">expressed</a> surprising enthusiasm. According to sources, the former executive believes that the imprisonment would be an ‘exciting’ experience.&nbsp;
Meanwhile, the FTX exchange recently received approval from a US bankruptcy judge for its reorganization plan. Previously, in August the exchange also got its $12.7 billion repayment plan <a href="https://thenewscrypto.com/u-s-court-approves-12-7-billion-repayment-plan-for-ftx-creditors/" target="_blank" rel="noopener noreferrer nofollow">approved</a> by the US court.&nbsp;
Highlighted Crypto News Today:&nbsp;
<a href="https://thenewscrypto.com/crypto-com-sues-sec-over-claims-of-unregistered-operations/" target="_blank" rel="noopener noreferrer nofollow">Crypto.com Sues SEC Over Claims of Unregistered Operations</a>

FTX Token Drops 10% as Former Executive Begins Prison Term

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