FTX Failed to Report the Most Recent Token Burn
Nov 10,2022,12:56
Crypto exchange FTX has made $34 million in trading fees since the last time it burned its native FTT token on Oct. 31st, but FTX failed to report the most recent token burn, which was scheduled for Nov. 7th. The pending burn stands at $11,397,021 in the form of 3,795,212 FTT tokens, equating to over 1% of the token's total supply.
It is reported that since its inception, FTX has allocated 33% of all trading-fee revenue to burning the FTT token on a weekly basis.
