“If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings,” the SEC wrote in its complaint. “The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token.”
Related posts
-
Lawyer Expects SEC to Challenge XRP Ruling as Appeal Deadline Approaches
A former lawyer with the U.S. Securities and Exchange... -
Bedrock Bolsters Security Post-$2 Million Hack, Partners With Chainlink
On Sept. 27, Bedrock, a liquidity staking platform, experienced... -
TON-Based Hamster Kombat Token Plummets 42% in 3 Days
On Sunday, Sept. 29, 2024, market data revealed that...