Why is FTT going down?

Why is FTT going down? This is a question that many investors and enthusiasts in the cryptocurrency market have been asking lately. FTT, as the native token of the FTX exchange, has seen a significant decline in its value recently. Could it be due to market volatility? Or perhaps the recent regulatory scrutiny surrounding the crypto industry? Is it the result of competition from other exchanges offering similar services? Or maybe investors are losing confidence in the long-term prospects of FTT? Understanding the reasons behind this downtrend is crucial for making informed decisions in this rapidly evolving market.