FTT (FTX Token) rose 8.77% in the last 24 hours.

Gate News Bot news, on October 31, according to CoinMarketCap data, as of the time of writing, FTT (FTX Token) is currently priced at 0.89 USD, having risen 8.77% in the last 24 hours, with a high of 0.94 USD and a low of 0.77 USD. The 24-hour volume reached 13 million USD. The current market capitalization is approximately 293 million USD, an increase of 23.6 million USD compared to yesterday.

Important news about FTT recently:

1️⃣ Sam Bankman-Fried returns to social media FTX founder Sam Bankman-Fried posted “gm” (good morning) on the X platform (formerly Twitter) on October 24, breaking a two-year silence. This sudden appearance triggered a strong market reaction, with the FTT token price rising by 30%. SBF's re-emergence sparked widespread speculation and discussion among investors about the future developments of FTX-related assets.

2️⃣ FTX announces a massive debt repayment plan FTX announced a debt repayment plan of approximately $1.6 billion, a move that significantly boosted market confidence. The launch of the plan indicates that FTX is actively addressing its legacy financial issues, laying the groundwork for a possible business restart. The market generally views this as a positive signal for the potential recovery of FTX and its related asset values.

3️⃣ The Chairman of the US SEC is open to the FTX relaunch Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), recently expressed an open attitude towards the possible restart of FTX. This statement was interpreted by the market as a sign that the regulatory environment may develop favorably for FTX to resume operations, driving the price of the FTT token to rise significantly by over 80% in the short term.

The recent price trend and volume of the FTT token have significantly increased, reflecting the market's positive expectations for developments related to FTX. However, considering the high volatility of the cryptocurrency market and FTX's controversial past, investors should remain cautious when making decisions and thoroughly assess the associated risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.