The token offered by the cryptocurrency exchange, Futures Exchange Trading (FTX), appreciated in value by 74.04 per cent in the last 24 hours after reports emerged that the closed crypto could reopen to the public.
Ripples Nigeria had reported that FTX filed for bankruptcy due to alleged financial abuse by the co-founder, Sam Bankman-Fried.
He was accused of misappropriation of funds such as using investors’ funds for personal gains, acquiring real estate assets and also donating large capital to the presidential campaign of the current United States President, Joe Biden.
