(CNBC) FTT, the token native to crypto exchange FTX, lost most of its value after rival Binance, the world’s largest cryptocurrency firm, announced plans to acquire the company. The coin traded at around $22 on Monday and sank below $5 Tuesday afternoon in New York. The sell-off wiped out more than $2 billion in value in the space of 24 hours.
FTX’s token plunges 80% on liquidity concerns, wiping out over $2 billion in value
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