Huobi Lists Debt Token on Behalf of FTX Creditors
iHodl.com
Main page News, Token, Cryptocurrency Exchanges, Huobi, FTX

Cryptocurrency exchange Huobi has listed a new debt token dubbed FUD (FTX Users' Debt) as drama around FTX keeps unfolding. In a press release, Huobi said that FUD is a bond token for the "highest quality creditors in the FTX event issued by DebtDAO."

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The token, with a "fair price" set at $0, had an initial supply and circulation of 20 million FUD tokens. However, laterDebtDAO decided to destroy 18 million FUD tokens due to the "high enthusiasm of user subscriptions."

Huobi claims that DebtDAO was "notified of a debt amount of approximately $100 million by FTX creditors." As of press time, FUD is trading in a pair with USDT at $67.3 with a maximum set at $200, according to data from Huobi.

DOJ Wants FTX's Bankman-Fried to Stay Away from Signal Over Alleged Witness Tampering

FTX filed for Chapter 11 bankruptcy protection in the US in early November after it had faced a liquidity crisis. The Bahamas-based trading platform owes over $3 billion to the top 50 creditors.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange,

Read also:
Please describe the error
Close