FTX

FTT experienced a substantial gain, surging approximately 10% to $1.47 in 24 hours. Shortly after the news, it peaked at $1.59.

Elliott Lam filed his class-action lawsuit in federal court in San Francisco on behalf of people who traded on FTX's platform outside the United States.

FTX filed for Chapter 11 bankruptcy, and Sam Bankman-Fried has resigned as the CEO of FTX and has been replaced by John J. Ray III.

The most known cryptocurrency exchange in the World, Binance, signed a nonbinding agreement for buying FTX which is a Bahamian cryptocurrency exchange.

Changpeng mentioned that the sale will take some months because of the exchange liquidity crunch, assuring the public that Binance will try to minimize the market impact.