FTX Launches Equity Token Sale Available For Purchase Through CryptoAuthor: Ali RazaLast Updated: 25 February 2020 The FTX crypto derivatives exchange has launched its equity token today. One token represents an ownership stake within FT Trading Ltd, the company that owns FTX, and is based within Antigua.$2 Equity Tokens Selling in $250,000 BundlesAs it stands now, a single equity token costs just a measly $2. However, the minimum size of purchase for these tokens stands at an impressive $250,000. This comes from the announcement that FTX had done on Tuesday this week. Depending on the supply and demand for these tokens, the sale of said tokens is expected to end anywhere between the 1st to the 7th of March.Sam Bankman-Fried, the CEO of FTX, explained that the equity token serves as a way for small-scale investors to gain a stake at the company as well, albeit small as it is. Through standard means, the minimum purchase size for a stake in FTX clocks in at a staggering $2.5 million.Aiming For $30,000 In FundingIt’s just been a week since it became clear that FTX was aiming to raise money through equity. The company is currently seeking an impressive $30 million in an equity round, valuing their company at an even $1 billion. As this information would suggest, the equity token sale holds a soft cap of $30 million. As Bankman-Fried told the press, the hard cap for this sale is estimated to go just past $50 million.Bankman-Fried was quick to specify, however, that there is no maximum investment cap when it comes to small-scale investors.Terms and Conditions ApplyAs one would expect, FTX’s equity tokens have a long list of terms and conditions attached to it. First off, these tokens are not tradable on any of the exchanges, nor is it withdrawable. FTX was quick to state that it is “strongly” considering allowing the trade of the token in the next few years. However, it should be noted that the trading of this equity token would require licensing from a range of jurisdictions.The following specification is that these tokens don’t allow for the same voting rights that equity shares properly enjoy within FT Trading Ltd. The last specification is that ownership of the token does not provide ownership over the FTX exchange itself. It further doesn’t grant ownership over potential white labels of FTX, nor any leveraged tokens. Further denial of ownership stretches towards the “utility token” of FTX, FTT, as well as any potential operation outside of the US’s borders.