“If demand for buying and selling on the FTX platform elevated, demand for the FTT token might improve, such that any worth improve in FTT would profit holders of FTT equally and in direct proportion to their FTT holdings,” the SEC wrote in its grievance. “The big allocation of tokens to FTX incentivized the FTX administration workforce to take steps to draw extra customers onto the buying and selling platform and, subsequently, improve demand for, and improve the buying and selling worth of, the FTT token.”

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