I can't believe this needs to be said, but the FTX Token (CRYPTO: FTT) should be avoided at all costs. The token that was born out of the now-bankrupt crypto exchange FTX, which was run by convicted fraudster Sam Bankman-Fried. It has more than tripled in a little more than a week in the hope that the FTX exchange itself would make a return. But even the return of FTX as a business doesn't mean the token has any value.

This is a speculative token, at best, and currently has no real utility. Yet, that doesn't seem to matter to the crypto market, which is bidding up the most volatile, speculative assets it can find.

The FTX Token was originally a token created by FTX to give traders discounts on trading fees. For active traders, the savings could offset the cost of buying the token itself.

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Source Fool.com