FTX Did Not Report FTT Token Burn Planned to Occur on November 7th

Crypto exchange FTX has earned $34 million in transaction fees since the last burn of its native token, FTT, on Oct. 31, CoinDesk reported, without reporting the most recent token burn planned for Nov. 7. The pending burn is 3,795,212 FTT tokens, approximately $11.397 million, or more than 1% of the total token supply. Since its inception, FTX has used 33% of its transaction fee revenue to burn FTT tokens every week. According to the FTX website, the largest token burn in FTX history took place last May when it burned $10.2 million worth of FTT.