Fwiw, I don’t think a crash in the FTT token would’ve crashed FTX as a business (assuming no funny business with extending loans to other parties collateralized in FTT). Afaik FTT was basically a revenue-share token, essentially like common stock.
Just as Meta shares falling 70% didn’t affect their core business of showing users ads, a crash in FTT shouldn’t have affected the core exchange business. It’s just the going rate for rights to future profits.
Fwiw, I don’t think a crash in the FTT token would’ve crashed FTX as a business (assuming no funny business with extending loans to other parties collateralized in FTT). Afaik FTT was basically a revenue-share token, essentially like common stock.
Just as Meta shares falling 70% didn’t affect their core business of showing users ads, a crash in FTT shouldn’t have affected the core exchange business. It’s just the going rate for rights to future profits.