KryptoCurrency

November 15, 2024
Crypto

Exchanges delist FTX Token pairs from trading platforms

By akohad Nov15,2022

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As the FTX collapse continues to cause turmoil in the crypto industry, various crypto exchanges have delisted FTX Token (FTT) on their platforms. 

In an announcement, crypto exchange Binance highlighted that it had removed the FTT/BTC, FTT/BNB, FTT/ETH and FTT/USDT trading pairs on its platform citing that the pairs failed to pass their recent reviews. However, the exchange noted that the FTT/BUSD pair is still available on its exchange.

The decision follows requests from community members to delist the token. In a tweet, influencer Cevo urged Binance CEO Changpeng Zhao to immediately take action against FTT, suggesting delisting everything FTX-related to protect the exchanges’ customers. 

Apart from Binance, BitMEX has delisted the perpetual swap contracts connected to FTT. This includes its FTT/USD and FTT/USDT pairs. The exchange cited a reduction in spot trading of the pairs as its reason for delisting. Like BitMEX, KuCoin has also delisted its FTT/USDT perpetual contract on KuCoin Futures.

Meanwhile, Zipmex has also announced that it would be delisting FTT on Nov. 22, 2022, but will leave withdrawals open until Feb. 14, 2023. 

Related: FTX collapse could see crypto sector layoffs accelerate

Days after the beginning of the FTX crisis, its former CEO, Sam Bankman-Fried, tweeted various cryptic messages, attracting wild theories and speculation within the crypto community. Some theorized that the tweets could be an act by Bankman-Fried to potentially make a defense by claiming insanity if he’s ever taken to court. 

After the FTX fraud was brought to light, an interview with Bankman-Fried in The New York Times garnered criticisms from Crypto Twitter for seemingly defending the actions of the former FTX CEO. Many criticized the mainstream media outlet for attempting to change the narrative around his alleged financial crimes.