What Led a MAJOR Crypto CEO to BLOW UP an Exchange?! Uncover the Shocking Details Now

FTX, an internal token of the cryptocurrency exchange platform, was being traded back and forth to up its value to increase net worth. Founder and CEO of Binance, CZ, discovered the scheme and dumped FTT tokens on the market, causing liquidity for FTX to crash. The scheme turned out to be a large Ponzi scheme all along.

FTT Token Ponzi Scheme: What Happened


For those who may not know, FTT was the internal token of FTX, a cryptocurrency derivatives exchange. Investors thought that FTT was being used as their net worth, but what they didn’t know was that their liquidity was also tied to it.

The Trading Scandal

What really happened was that FTX users were just trading FTT tokens back and forth. This was known as “wash trading,” which artificially inflated the value of the token. As a result, the net worth of the investors was higher than what it actually should have been.

Binance Comes Into the Picture

CZ, the founder and CEO of Binance, got wind of this scandal and decided to take matters into his own hands. To bring light to the situation, he dumped FTT tokens on the market, causing its liquidity to crash.

The Aftermath

After the dust had settled, it became apparent that FTX had been running a Ponzi scheme all along. The entire FTT token was just an elaborate scheme to make the investors’ net worth and the exchange’s liquidity seem higher than it actually was.


The FTT token scandal is a significant reminder to investors to always perform due diligence before investing in any cryptocurrency. It is essential to understand the market dynamics of a particular token, and when something seems too good to be true, it usually is.


Notify of
Inline Feedbacks
View all comments

Is This Growth Stock Severely Undervalued? Anticipating 1600% Revenue Growth in One Year!

In a YouTube video, Sam discusses CleanSpark (CLSK), a bitcoin mining company he believes to be underrated and undervalued compared to its peers. Despite lawsuits against CLSK, Sam is bullish on the company...

Plan Your Millionaire Strategy for Profit Taking Before the Next Bull Run!

In a video about cryptocurrency investing, the presenter emphasises the importance of taking profits and shares his own mistakes from 2021 where he did not take profits and lost out in the bill market....

Discover Hypermine - Your Ticket to Success in the Bear Market on Pulsechain!

HyperMine.club, a dynamic and community-driven ecosystem for the new PulseChain community, will be launched on PulseChain after its launch. Its native token has no pre-allocations and the management team...

Diamond BUSD: The Hot New Crypto Staking That Earns BUSD While You Sleep - Discover Proof and Results! πŸ’° πŸš€

Jim Crypto has posted a follow-up video to his Diamond B USD review, showing the progress made since his last video and discussing the cryptocurrency’s features. He highlights the smart contract’s...

Attention XRP & Crypto Holders: This is a Must-See!

In this video, the host, Dusty, discusses the recent drama in the crypto world, including a debate between Craig Wright, the Bitcoin founder, and David Swartz, the CTO of Ripple. Dusty also mentions his...

"Could SUI Network Be The Next Game-Changer in the World of Altcoins?"

Suite Network is a new cryptocurrency project that has gained attention online and is currently trading at 1.34. The project is a layer 1 blockchain, meaning it competes with the likes of Bitcoin and Ethereum,...

Unraveling the Mystery: The Exact Number of HBAR to Achieve Millionaire Status!

A video by BitBoy Crypto explores how to become a millionaire through investing in HBAR tokens, which serve the Hedera project, a hashgraph that differs from the typical blockchain. Assuming HBAR will...

Unbelievable Crypto Hearing: What's Going On Here?!

The US government continues to crack down on the cryptocurrency industry, causing investors to speculate which projects and companies will be targeted next by regulators like the SEC. A recent Congressional...

Discover CryptoUnity: Open the Door to Financial Freedom and Secure Your Spot in the CUT Presale Today!

Crypto Unity is an all-in-one platform designed for beginners in the world of crypto and blockchain. The platform offers a simple user interface and user experience, a crypto exchange, education in the...

Should the XRP Army Trust the Government? Think Twice Before Answering!

A YouTuber has warned that the future of crypto in the US depends on the outcome of the XRP case, as the US government is corrupt, and may try to dwindle all banks down to four banks. A message was reportedly...
Load More



Coming Soon

Subscribe and be the first to know about the launch

Look at our roadmap


Thanks for subscribing

You will only receive important notifications
For now, follow to our social networks