FTX

company

Also known as: FTX Trading Ltd.

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Last updated

July 22, 2026

Quick Summary

FTX was a prominent cryptocurrency exchange founded by Sam Bankman-Fried in 2019. It quickly became one of the largest exchanges globally, closely linked with Alameda Research, a quantitative trading firm also cofounded by Bankman-Fried. FTX offered incentives for trades using its native token, FTT, and Alameda Research played a key role in maintaining FTT's price stability.

The company collapsed in November 2022 due to revelations of mismanagement at both FTX and Alameda Research. This led to a run on customer deposits, with billions in customer funds lost. Bankman-Fried was subsequently convicted of fraud and conspiracy charges and sentenced to prison. The FTX scandal highlighted significant issues with transparency and accountability in the digital asset market.

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Sam Bankman-Fried
…chief executive officer (2019–22) of FTX Trading Ltd., a cryptocurrency exchange. The exchange became the second largest of its kind, making Bankman-Fried a powerful figure within the market of digital assets and in discussions in the United States Congress regarding the industry’s regulation. It was closely tied to Alameda Research…
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…chief executive officer (2019–22) of FTX Trading Ltd., a cryptocurrency exchange. The exchange became the second largest of its kind, making Bankman-Fried a powerful figure within the market of digital assets and in discussions in the United States Congress regarding the industry’s regulation. It was closely tied to Alameda Research…
Read More