In brief This Learn article will cover what exchange tokens are, what they are used for, how they are purchased, and the new scrutiny on them in light of FTX’s reported malfeasance related to its FTT token. It was the shot heard ‘round the crypto world. On November 6, 2022, Changpeng “CZ” Zhao, CEO of the world’s largest cryptocurrency exchange Binance, said his company would move to liquidate its holdings of FTT, the native token of rival exchange FTX. His announcement triggered an FTT selloff, bringing a top-five crypto exchange to its knees. FTX experience ...
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