ftt is still trading at $3. It's down but not out. this is the same price as late 2020.
Sell it to someone else.
it's a common trend, and a lot of people ride that bump for significant profit.
I personally wouldn't touch it, but I'm at least curious to hear the heterodox argument. Somebody out there is still buying it at $3, I wonder why.
It's traded elsewhere, and there are derivatives that pay premium. There's also the chance that Binance, Tron, or someone else accept conversions of FTT at some rate that makes the trade profitable. Facts are still coming out. We can only say it's not yet worth $0.
It's not dumb or even irrational. Or no more than any thought involving crypto is irrational.
Lots of people have made money catching a falling knife right before a big bounce.
In the case of FTX: fraud. They were giving people a useless token for tokens that had value elsewhere.
With Binance, you could make the case you own equity in the exchange, but that could have the same outcome as FTX.
It’s worth noting these types of tokens aren’t permitted on US-based exchanges. Likely because they are the most obvious unregulated securities (more so than other tokens).