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FTX Token (FTT) is the native utility token of the FTX cryptocurrency exchange, designed to provide holders with trading fee discounts, voting rights on platform decisions, and access to exclusive features. The token historically offered a deflationary mechanism through quarterly burns and staking rewards, creating incentive structures for long-term holders. However, FTT's value and credibility were severely impacted following FTX's collapse in November 2022, which revealed significant misuse of customer funds and fraud by the exchange's leadership.