Breaking: FTX Japan Expands on FTX 2.0, FTT Price Dips

FTX Japan, a renowned crypto asset and virtual currency exchange, has initiated a hiring drive to strengthen its team and propel the FTX 2.0 initiative. In parallel, the price of the FTX Token (FTT), the native cryptocurrency of the FTX ecosystem, has experienced a dip in the past 24 hours.

FTX Japan is Expanding For FTX 2.0

FTX Japan is actively seeking new talent as part of its commitment to driving forward the FTX 2.0 initiative. The exchange aims to explore cutting-edge technologies, including AI, to develop new crypto tools, non-custodial CEX trading, Proof of Solvency, and leading crypto derivatives products.

Led by Seth Melamed, the COO of FTX Japan, hiring drive serves as a testament to FTX Japan’s commitment to advancing the FTX 2.0 initiative. CoinGape reported in May about FTX new CEO John Ray’s billing reports that indicated the 2.0 reboot of exchange material for distribution.

The FTX team aims to relaunch the exchange by the second quarter of 2024.

Also Read: Polygon Introduces POL Token Upgrade, MATIC Price Jumps 5%

FTX Token (FTT) Price Dips Over 6%

FTX abruptly halted all withdrawals last year and ultimately succumbed to the weight of its financial burdens. It filed for bankruptcy on November 11, 2022. The fallout left nearly 2 million customers with unpaid debts. In the wake of a liquidity crisis that struck last year, around 130 companies under the FTX group were forced to seek bankruptcy protection.

Some prominent firms to go belly up were Voyager Digital, Genesis BlockFi, Celsius, and Three Arrows Capital. Meanwhile, former CEO, Sam Bankman-Fried, largely denied the allegations and pleaded not guilty and started on FTX 2.0.

In the midst of these developments, the price of the FTX Token (FTT), the native cryptocurrency of the FTX ecosystem, has experienced a 6.02% decrease. Within the past 24 hours, FTT saw a low of $1.5433 and a high of $1.7250, highlighting the inherent volatility of the cryptocurrency market.

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