FTX

Rare card · No. 28077

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. Since November 11, 2022, FTX has been in Chapter 11 bankruptcy proceedings in the US court system. Public concern began with rumors of unethical and fraudulent inter-company transfers of client funds. In November 2022 CoinDesk also raised...

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