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Why the FTX Token Is Up Big Thursday Afternoon

TheMotleyFool

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Why the FTX Token Is Up Big Thursday Afternoon: https://g.foolcdn.com/editorial/images/708914/crypto-and-nfts.jpg

Despite the fact that FTX continues to be in serious financial trouble, the FTX Token (CRYPTO: FTT) us up 16.5% in the past 24 hours as of 3:50 p.m. ET.

The token's low price in the last 24 hours is $2.06, which came after Binance said it wouldn't complete an acquisition of FTX.

It was only Tuesday that FTX ran into clear liquidity problems and turned to Binance for a potential buyout. Binance signed a letter of intent, but still needed to look at FTX's books before closing a deal. Ultimately, Binance didn't like what it saw and by early Thursday the deal was off, sending FTX Token into free fall.

Source Fool.com

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