FTX Drops 10% as an Emerging AI Platform Approaches $9M

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FTX Exchange’s native cryptocurrency FTT has continued to experience a price dip since the disgraced Sam Bankman-Fried’s digital assets trading venue revealed plans to fully repay customers but won’t continue operating the exchange.

Meanwhile, InQubeta (QUBE), an emerging AI altcoin, is on course to hit the $9m milestone in its ongoing public presale campaign. 

FTT Faces More Gloom 

FTX Exchange, a once second-largest Bitcoin trading venue in the world, said earlier this week that it’s putting preparations in top gear to fully reimburse the victims of the exchange’s collapse. 

The team has stated that customers and creditors affected by FTX’s abrupt collapse in November 2022, are required to submit proof that they had deposits on the platform when the ugly incident occurred and the claims will be vetted by the restructuring officials.

While the somewhat positive news brought an air of optimism and excitement to some of the bankrupt exchange’s customers, the price of its native FTT cryptocurrency has continued to slide, as the company has stated categorically that it has no plans of restarting FTX Exchange.

CoinGecko has urged FTX token holders to be cautious, as the FTX Contract Deployer has now transferred out all the previously locked FTT tokens into circulation.  

FTX (FTT) has witnessed a nearly 40% price decline in the last 30 days. Whether the embattled asset will somehow overcome this turmoil remains to be seen.

InQubeta (QUBE) Making Progress 

While FTX and its FTT face an uncertain future ahead, with investors waiting anxiously to be made whole, InQubeta (QUBE), a new blockchain project looking to foster the growth of AI-based projects in the Web3 space, is making progress in its ongoing public presale.

As stated in its whitepaper, the InQubeta (QUBE) project is a crypto-based crowdfunding platform that supports fractionalized investments in AI platforms. Its native QUBE token is at the forefront of the entire process, enabling holders to easily purchase fractionalized non-fungible tokens (NFTs) representing investment opportunities in AI projects.

Due to the regulatory uncertainties that still abound in the digital assets ecosystem, traditional financial institutions are often wary of funding blockchain-based projects. However, InQubeta (QUBE) aims to solve this problem with its crowdfunding solution.

The platform features an NFT marketplace that makes it possible for AI startups in the Web3 ecosystem to raise capital by offering users rewards and equity-based digital collectibles. 

It’s no news that cryptocurrencies are super volatile assets. InQubeta claims its QUBE token is designed to overcome negative volatility, as it features a 2% tax on all buy and sell transactions on the platform. The realized QUBE tokens are then sent to a “burn wallet.” 

The InQubeta presale is currently in its 7th stage and the project has raised nearly $8.7 million, with QUBE exchanging hands for $0.0224 at the time of writing. 

InQubeta Presale

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