FTT Token Skyrockets By Over 100% Following FTX’s $7.3 Billion Recovery

Key Points:

• FTX has recovered more than $7.3 billion in both cash and crypto assets, which is an increase of over $800 million since January.
• FTT token has surged by over 100% in response to the recovery, but FTX’s damaged reputation may be difficult to overcome.

FTT token surges by over 100% after FTX recovers $7.3B in cash and crypto assets. Recovery increased over $800M since Jan. Positive for former users, but potential relaunch raises questions about FTX’s future.

FTT token has surged by over 100% and is currently trading at around $2.6 after the bankrupt crypto exchange FTX recovered more than $7.3 billion in cash and crypto assets.

According to the company’s attorney at a bankruptcy court hearing, the total recovered is more than $800 million since January. While this is undoubtedly a positive development for the failed exchange, it arrives alongside the news that FTX is considering a relaunch in Q2.

FTX officially recovered the billion in both cash and digital assets, according to a report by Reuters. The recovery arrived after a bankruptcy court hearing that took place today noted the increase in recovered funds. A recovery effort that saw a rise of more than $800 million since January.

The recovery of funds is certainly positive for former users, but the news of a potential relaunch is interesting. Specifically, FTX is undoubtedly three letters representing a horrendous time period for many investors. The public image of the brand seems irreparably tarnished. Yet, it is undetermined if the proposed relaunch would indicate a branding overhaul.

FTT token has been one of the biggest beneficiaries of the recovery, with a surge of over 100%. The recovery of funds for former users is certainly positive, but the news of a potential relaunch is a reminder of the controversy and scandal that surrounds FTX. Investors will be watching closely to see if FTX can overcome its challenges and regain its position as a trusted crypto exchange.

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