Why FTX Native Token Is Up A Whopping 24% Today

FTX’s native token FTT FTT/USD soared over 24% in the past 24 hours, after the company’s new CEO John J. Ray III, said that he was exploring ways to revive the defunct exchange that was formerly run by Sam Bankman-Fried. 

What Happened: In an interview with The Wall Street Journal, Ray said that a task group has been established to evaluate the possibility of reviving the company's main international exchange, FTX.com.

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“Everything is on the table,” Ray said to the Journal. “If there is a path forward on that, then we will not only explore that, we’ll do it.”

FTT has seen a 160% rise since its all-time low of $0.82 on Dec 30, according to CoinMarketCap data. Despite the catastrophic failure of FTX, the token's value has never plummeted to zero. 

Price Action: At the time of writing, FTT was trading at $2.33, according to Benzinga Pro.

Read Next: Bitcoin Regains $21K, Ethereum, Dogecoin Spike On FTX Revival Hopes

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Posted In: CryptocurrencyNewsMarketsMoversTrading IdeasFTXJohn J. Ray IIISam Bankman-Fried
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