Coinspeaker
US SEC Declares FTX’s Native Token FTT as Security
In a complaint filed late Wednesday, December 21, the US Securities and Exchange Commission (SEC) said that crypto exchange FTX sold its native FTT tokens as an investment contract and is a “security”.
Is FTT a Security?
The massive selling of FTT tokens by Binance and others triggered a major downfall for the crypto exchange FTX. Since the FTX crisis unfolded in early November, the price of FTT tokens collapsed by a staggering 98% so far. In its recent analysis, the US SEC noted:
“If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings. The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token.”
We współpracy z: https://www.coinspeaker.com/sec-token-ftt-security/
