Does FTX Still Have a Future — And What About FTT Token?
2025-07-09 09:46:10
Main Idea
FTX is progressing with customer repayments and legal settlements, including a notable settlement with Shaquille O'Neal, while the future of the FTT token remains uncertain due to its poor performance.
Key Points
1. Shaquille O’Neal settled with FTX investors for $1.8 million over endorsement claims, marking the first known celebrity settlement linked to FTX’s collapse.
2. FTX contested a $1.53 billion claim from Three Arrows Capital, labeling it as 'baseless' and arguing the actual account value was around $284 million.
3. The FTX Recovery Trust has launched a second wave of customer repayments totaling over $5 billion, with $950 million in claims still under reconciliation.
4. FTT Token is currently valued at $0.80, more than 99% below its all-time high of $85, and has lost over 78% of its value year-to-date.
5. The FTX Recovery Trust is working to finalize 82% of the restricted claim pool, estimated at $380 million.
Description
FTX advances with settlements and payouts. However, its native token FTT faces weak technicals and limited investor confidence. Shaquille O’Neal settles with FTX investors for $1.8 million over endorsement claims. FTX is moving forward with customer repayments and legal settlements following its collapse in 2022, even as its native token, FTT, continues to struggle in the market. With legal battles unresolved and trust eroded, the future of the FTX brand and the FTT token remain uncertain. Legal...
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