Also known as FX TRADING LIMITED, XFTX
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 after massive fraud perpetrated by Bankman-Fried and his partner Caroline Ellison forced the company to file for Chapter 11 bankruptcy.
Key facts
- Company.name
- FTX Trading Ltd.
- Company.logo
- FTX_logo.svg
- Company.type
- Private
- Company.industry
- Cryptocurrency
- Company.founders
- Sam Bankman-Fried Gary Wang
- Company.key_people
- John J. Ray III (CEO)
- Company.hq_location_city
- Nassau, New Providence
- Company.hq_location_country
- The Bahamas
- Company.revenue
- (2021)
- Company.operating_income
- (2021)
- Company.fate
- Filed for Chapter 11 bankruptcy in November 2022
- Company.net_income
- (2021)
- Company.num_employees
- (2022)
- Cryptocurrency.currency_name
- FTX Token
- Cryptocurrency.code
- FTT
- Cryptocurrency.white_paper
- FTT Whitepaper
via Wikipedia infobox
Wikidata facts
- Official website
- ftx.com
Show 5 more facts
- inception
- 2019-05-00
- social media followers
- 32800
- Commons category
- FTX (company)
- API endpoint URL
- ftx.com/api
- dissolved, abolished or demolished date
- 2022-11-00
Sources (3)
via Wikidata · CC0
~28 min read
Article
14 sectionsContents
- History
- November 2022 crisis and {{visible anchor|bankruptcy}}
- Background: FTX and Alameda, Binance, and ''CoinDesk'' report
- Crisis begins: Binance FTT sale, sell-off, and withdrawn rescue bid
- Bankruptcy and unauthorized transactions
- Widening impact and contagion fears
- Responses and effects
- Effects on investors
- Effects on other cryptocurrency firms and cryptocurrency markets
- Responses and commentary
- Legal process
- Sponsorships
- References
- External links
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 after massive fraud perpetrated by Bankman-Fried and his partner Caroline Ellison forced the company to file for Chapter 11 bankruptcy.
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 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.