3min chapter

Coin Stories with Natalie Brunell cover image

FTX and FTT Implode, No Binance Buyout, Bitcoin Drops, Easy Explainer with Cory Klippsten

Coin Stories with Natalie Brunell

CHAPTER

How Did This Turn Into a New Contagion?

The price of the FTT token is 80X overvalued. There's no natural demand for this stuff, so it would need about a hundred million dollars of supply. Sam Bankman smelled blood and said, "I happen to have this $580 million worth of FTT on my balance sheet" He went ahead and played that card.

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