FTX Token’s Existence Keeps Fading as Exchanges Keep Delisting its Trading Pairs

From November 7 until now, the FTX crash has continued causing great turmoil to the entire cryptocurrency industry. With the passing of every day, the situation is getting worse for FTX Token (FTT).

However, FTT is not the only asset taking a fall due to the FTX crash, it is the entire industry that is suffering from the crash. The impact seems to be unending and has devastated the entire industry.

From crypto companies laying off employees to pausing withdrawals and even filing bankruptcy, FTX has given every possible shock to the industry.

The Exchanges are Reacting

However, the exchanges are now eager to take the pressure off of their shoulders as they have started to delist FTX Tokens from their platforms.

Given the current (beyond fixing) situation of the FTT, the exchanges have started to delist the token and all the pairs that they had launched with it.

This is an attempt from the exchanges to ensure no investor from their platform is able to interact with the asset let alone face any losses.

Binance Announces the Delisting

It seems that none of the cryptocurrency exchanges want anything to do with FTX or its native token FTT. Binance is among the first crypto exchanges that have made an announcement about delisting FTT.

The exchange has announced that it has delisted FTT and all the pairs it honored. Binance has announced that they had paired FTT with BTC, BNB, ETH, and USDT.

However, they have now removed the pairs that were FTT/USDT, FTT/ETH, FTT/BNB, and FTT/BTC.

The exchange has remained very professional while removing the assets as it did not want to enforce its decisions on the users.

The officials at Binance communicated that they ran the pairs through a reviewing program. If the review passed the pairs, they would stick around, otherwise, they would be removed for good.

As the review result was a nay, they had to delist the pairs and make an official announcement to confirm the change and the decision.

Despite removing all the pairs, Binance has announced that it has kept the FTT/BUSD pair operational for the users.

The exchange has confirmed that by doing so, they are protecting the funds and investments from digital assets.

If anyone were to invest in the pairs, they would simply face a confirmed loss due to the asset’s current market condition.

Other Exchanges Follow the Leader

As the largest and the leading crypto exchange in the entire crypto world have delisted FTT pairs, the rest are following the trend.

Other exchanges such as KuCoin, BitMEX, Zipmex, and many more exchanges have announced the delisting from their end.

The latest developments have caused even more damage to the market price of FTT. At the time of writing, FTT’s trading price is worth $1.69 and it has suffered a 5.74% loss in the past 24 hours.