Founded in 2019 by Sam Bankman-Fried and Gary Wang, FTX rapidly grew to become one of the world's largest and most prominent cryptocurrency exchanges. It offered a wide range of products, including spot trading, complex crypto derivatives, futures, options, tokenized stocks, and an NFT marketplace. The company was known for its aggressive marketing campaigns and high-profile sponsorships. In November 2022, a liquidity crisis triggered by a bank run exposed a multi-billion dollar shortfall, revealing that customer funds had been improperly loaned to its affiliated trading firm, Alameda Research. The subsequent collapse led to the company filing for bankruptcy protection and the arrest and conviction of its founder on multiple fraud charges. The company is currently undergoing a restructuring process to repay creditors.

Founded in

The Bahamas