FTX is now a bankrupt centralized exchange that was led by Sam Bankman-Fried.

FTX Exchange was offering a diverse range of products and services for cryptocurrency traders. These encompassed futures trading, leveraged tokens, options, MOVE contracts, spot markets, and staking opportunities for FTT holders.

FTX Exchange operated through two trading arms: FTX, an international platform based in the Bahamas, and FTX US, a distinct U.S. affiliate catering exclusively to U.S. residents. In early November 2022, both FTX and FTX US, along with the associated companies, experienced a significant and rapid decline in their standing.

The rapid collapse of FTX in 2022 has caused detrimental ripple effects in the cryptocurrency industry, fostering widespread distrust among the public and leading to the downfall of other cryptocurrency services associated with it. At the time, FTX held the position of the third-largest crypto exchange.



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To distribute $1.6 billion to creditors