The price of FXT Token (FTT) has plummeted to $1.1579, a drop of 8%, following the guilty verdict of its founder, Sam Bankman-Fried (SBF).
SBF was found guilty on all seven counts after a 15-day trial. His sentencing is scheduled for March 28, 2024.
The FXT token price chart reveals that its value has fallen by 98% from its all-time high of $85.02. In the last 24 hours, its value has ranged from a low of $1.16 to a high of $1.32, with a 52-week low of $0.77 and a peak of $25.86.
The negative sentiment around FTT began in November when FTX filed for bankruptcy. This event resulted in significant financial losses for FTX customers and eroded market confidence in FTT.
However, there is a hope for FTT and FTX under new management. The exchange is attempting to recover $7 billion in lost funds and potentially rebrand itself. This could offer a new beginning for the exchange and the FTT coin after a difficult period.