FTT has been quite volatile recently. On one side, there are news reports of SBF acting as a "cellmate lawyer" in prison, and on the other side, his ex-girlfriend has gained the opportunity to transfer to community supervision early. The coin price has fluctuated amid these gossip.

What truly stirs the market is the development from Japan. It is reported that a well-known Japanese exchange, BitFlyer, is planning to acquire all shares of FTX Japan, with a budget scale of hundreds of millions of yen. Once this acquisition is finalized, FTX Japan will transform into an institutional-level digital asset management and custody platform. As soon as the news broke, FTT responded with fluctuations, and many traders are pondering—could this lead to a rebound? Considering the restructuring potential, BitFlyer’s institutional focus indeed gives FTT some room for imagination. But whether it can truly reverse the downward trend depends on subsequent developments.