The FTW belt was never an officially recognized title in AEW, and it’s retirement with Hook as its last holder is the perfect symbolism for Hook “graduating” and pursuing greater challenges. Whether AEW capitalizes on this narrative has yet to be seen.
I’d say the one most likely to turn face soon would be Takeshita. With Fletcher’s (and by extension Carny Hot Dog’s) betrayal of Ospreay, there’s potential for further shake ups in the DCF.
As to who will be dropping their championship first, probably Okada, as the next Continental Classic should be starting soon.