The SEC claimed that FTX's exchange token FTT was sold as an investment contract, making it a security. Adding:
Quote
“The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token.”
Could this decision have an impact on similar tokens, given that almost every exchange issues its own tokens?
Source:
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-234.pdf
https://tokenist.com/sec-classifies-ftt-as-a-security-could-binances-bnb-be-next/