FTX’s Digital Coin Was at Heart of Crypto Exchange’s Fall

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FTX’s Digital Coin Was at Heart of Crypto Exchange’s Fall
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A little-traded digital currency created by Sam Bankman-Fried’s now-bankrupt FTX played a crucial role in the company’s collapse

now-bankrupt FTX cryptocurrency exchangeThe digital currency is FTT, which was created by FTX. It isn’t unusual for a crypto exchange to issue its own currency, both to allow founders and early investors to profit if the value rises and to motivate traders to use the exchange.

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