Why did investors buy FTX?

Investors bought into the idea of FTT, since FTX offered rewards in exchange for ownership of the token, including trading discounts and VIP status on its site. Investors also were promised “guaranteed liquidity” by disgraced FTX founder Sam Bankman-Fried, insinuating that the risk of buying in was pretty much nonexistent.

Is FTX insolvent?

Bankman-Fried, who serves as FTX's CEO, took to Twitter early Monday to say the exchange was far from insolvent and there is no risk of withdrawals being halted. Binance CEO Changpeng Zhao has previously said that he plans to liquidate any remaining FTT on Binance's books, but on-chain data suggests that this hasn't yet begun.

What are the links between Solana and FTX?

The links between Solana, FTX, and Alameda are made clear as SOL continues to fall in price, now down 57% over the past week. Solana is a layer-1 blockchain platform. Image: Solana The Solana Foundation today shared the extent of its financial ties to FTX and Alameda Research.

What happened to FTX in November 2021?

The native token of FTX, FTT, also saw a dramatic decrease, with its price plummeting from $22.14 on 8 November to $3.15 on the same day, a staggering drop of nearly 86%. FTT was trading at $1.58 on 18 November, down more than 98% from its all-time high of $85.02 on 9 September 2021. Is FTX dead, or will it rise again from the ashes?