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

Coin Stories

00:00

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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