FTX

Biography

FTX Trading Ltd., trading as FTX (Futures Exchange), is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang and collapsed in 2022. At its peak in July 2021, the company had over one million users and was the third-largest cryptocurrency exchange by volume, and its app was widely advertised as a "safe, easy way to get into crypto". As of November 2022, FTX was the third-largest digital currency exchange boasting an active daily trading volume of US$10 billion and a valuation of $32 billion. FTX is incorporated in Antigua and Barbuda and headquartered in the Bahamas. FTX is closely associated with FTX.US, a separate exchange available to US residents.