{"product_id":"ftx-crypto-exchange-token-sam-bf-tea-coffee-mug-gift","title":"FTX Crypto Exchange FTT Token Sam Bankman-Fried Tea Coffee Mug Gift","description":"\u003cp\u003e\u003cb data-path-to-node=\"0\" data-index-in-node=\"0\"\u003eFTX Token (FTT)\u003c\/b\u003e was the native utility cryptocurrency of the now-defunct FTX exchange, a platform founded in 2019 by \u003cb data-path-to-node=\"0\" data-index-in-node=\"117\"\u003eSam Bankman-Fried\u003c\/b\u003e that briefly stood as one of the world's largest crypto derivatives markets. Designed to drive user engagement, the token granted holders benefits such as significantly discounted trading fees, staking rewards, and the ability to be used as collateral for futures positions. However, FTT became central to the exchange's catastrophic collapse in November 2022 after revelations surfaced that FTX's sister hedge fund, \u003cb data-path-to-node=\"0\" data-index-in-node=\"552\"\u003eAlameda Research\u003c\/b\u003e, was using the token to artificially inflate its balance sheet and secure massive loans. The ensuing liquidity crisis forced FTX into bankruptcy and led to criminal fraud convictions for its leadership; while FTT still technically exists and occasionally sees speculative trading, it has lost its underlying utility and the vast majority of its value.\u003c\/p\u003e","brand":"Cool Raccoon","offers":[{"title":"Default Title","offer_id":52772419993937,"sku":null,"price":11.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0998\/4635\/7329\/files\/FTXLMUG.jpg?v=1767877616","url":"https:\/\/cool-raccoon.myshopify.com\/products\/ftx-crypto-exchange-token-sam-bf-tea-coffee-mug-gift","provider":"Cool Raccoon","version":"1.0","type":"link"}