Here we publish everything about FTX.
According to Wiki FTX is a Bahamas-based cryptocurrency exchange. The exchange was founded in 2019 and, at its peak in 2021, had over one million users and was the third largest crypto exchange by volume.
Since 11 November 2022, FTX has been in bankruptcy proceedings in the US court system following a liquidity crisis. While details of the crisis are still being revealed, the public concerns began when a November 2022 CoinDesk article stated that FTX’s partner firm Alameda Research had a significant portion of its assets in FTX’s native token FTT.
Following this revelation, rival exchange Binance‘s CEO Changpeng Zhao announced that Binance would sell its holdings of the token, which was quickly followed by a spike in customer withdrawals from FTX.
FTX then became unable to meet the demand for customer withdrawals.
Binance signed a letter of intent to acquire the firm with due diligence to follow, to ensure that customers could recover their assets from FTX in a timely manner, but withdrew its offer the next day, citing reports of mishandled customer funds and U.S. agency investigations.
FTX filed for Chapter 11 bankruptcy protection on 11 November 2022.
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.