Rosen Law Firm is investigating whether FTX and its executives violated securities laws concerning the sale of FTT tokens. As a result, if you are an investor in FTX and have suffered losses, you may have a claim against FTX.
FTT investors are qualified for compensation without paying for contingencies. Investors who lost above $100K can contact Phillip Kim, Rosen’s injury lawyer, Esq, for more advice about the next steps.
Phillip Kim is a highly experienced class action and securities lawyer representing many investors in similar cases. He has a proven track record of getting investors the compensation they deserve.
Rosen has taken up several crypto-related trials. They played a significant role in the litigation against the managers of TerraForm Labs, the crew behind the collapse of the Terra project.
A Tough Week For FTX
The weekend was a tough one for the investors of FTT. First, the value of their holdings took a massive plunge after Binance announced it would liquidate its position in FTT. FTT, trading around $25, tumbled to $2.2 this week.
This sudden collapse has left investors reeling. Many are left wondering what went wrong and what could have been done to prevent such a disaster.
It’s still unclear what exactly caused the value of FTT to drop so dramatically. However, some theories are floating around.
One possibility is that the FTT team made poor decisions that led to the liquidation of Binance’s position. Another possibility is that there was too much hype surrounding FTT, and when the reality didn’t meet the hype, the token’s value dropped.
Whatever the case may be, it’s clear that the investors of FTT are in for a rough ride. It remains to be seen how the FTX team will recover from this setback and how the token will perform in the future.
FTT is a token created by FTX and sold to investors in an Initial Coin Offering (ICO) in 2019. However, FTX isn’t new to controversies. In November 2019, financial regulators accused FTX of wash trading (a form of market manipulation).
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