According to CoinGecko data, FTT has lost 78% of its value in the last 24 hours, falling from roughly $22 to $4.87. The FTX token hit a low of $3.12 on Tuesday before rising slightly to above four dollars before falling back to around $5.48 at the time of writing. FTT has dropped nearly 93% since reaching an all-time high of $84 in September of last year. FTT’s price has plummeted as both Binance CEO Changpeng “CZ” Zhao and FTX CEO Sam Bankman-Fried confirmed on Tuesday that Binance would acquire FTX due to a “significant liquidity crunch.”
