If it doesn't meet the required trading volume then obviously it will get delisted. But if the trading volume is maintained I think the exchange will keep it unless the SEC declares that FTX is a fraudulent company. If that happens, exchanges will be forced to delist FTX.
I believe FTT token will not face with all two bad things: delist because of low trading volume and SEC declaration that it is a fraud company.
But it will take a lot of time for FTX to come back, maybe with some external help and investment after the bankruptcy procedure completes. For people who have interest to catch FTT token, I would like to suggest that if it is me, I would prefer to wait for 2 more months when things are cooled down and become clearer, less panic on the market and bottom is in, I will consider to buy FTT token.
At the moment, stay neutral, stay cautious are the best.