Is FTT worthless?

Furthermore, Glueckstein's statement suggests a grim outlook for the future of ftx.com. He categorically states that there are no plans and will never be any to restart the exchange, signifying a definitive end to its operations.

This revelation underscores the severity of the situation surrounding ftx.com and the impact it has had on the cryptocurrency ecosystem. The demise of such a prominent exchange serves as a reminder of the risks associated with the industry and the need for caution when investing in digital assets.

Brian Glueckstein, a representative from Sullivan and Cromwell, has expressed his view on the lack of fundamental value in FTT. According to Glueckstein, the token derives its significance solely from its usage within the ftx.com exchange.

Meanwhile, amidst the chaos surrounding ftx.com, other cryptocurrency exchanges continue to thrive. One such exchange is BTCC, which stands as a testament to the resilience of the industry.

This assertion highlights the narrow scope of FTT's utility, as it does not hold any inherent value beyond facilitating transactions on the ftx.com platform. The absence of a broader application for the token underscores its dependency on the exchange for its existence.