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FTX Trading Ltd.
FTX Trading Ltd. was the corporate entity behind the FTX cryptocurrency exchange, founded by Sam Bankman-Fried in 2019, which collapsed in November 2022.
FTX Trading Ltd.
FTX Trading Ltd. was incorporated in 2019 by Sam Bankman-Fried, a former Jane Street trader, and Gary Wang, with Alameda Research serving as the affiliated trading firm. The company structured itself as a holding entity for the FTX exchange, which grew rapidly through aggressive marketing, sports sponsorship deals, and high-leverage trading products. FTX operated a centralized cryptocurrency exchange offering spot, futures, options, and leveraged token trading, alongside an NFT marketplace and the FTX Ventures investment arm. The exchange claimed over one million users and processed billions in daily trading volume. FTX deployed capital through venture investments in companies such as SkyBridge Capital, Sequoia Capital fund stakes, and blockchain gaming firms, though no specific portfolio companies remain publicly confirmed post-collapse (per public records, 2022). Geographic footprint included offices in the Bahamas, Hong Kong, and the United States. The firm had no disclosed team size or professionals count; the leadership team included Sam Bankman-Fried (CEO), Gary Wang (CTO), and Nishad Singh (Director of Engineering). In November 2022, FTX filed for Chapter 11 bankruptcy protection, with an estimated shortfall of $8 billion in customer funds (per public record, 2022). FTX's structural differentiator was its rapid growth model: it combined a centralized exchange with a proprietary trading firm (Alameda Research) and a venture capital arm, creating an interconnected structure that ultimately collapsed due to alleged misappropriation of customer funds. Its bankruptcy proceedings have been ongoing since 2022.
General information
Firm type
other
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Additional offices
Charlotte, NC, United States · New York, NY, United States · San Jose, CA, United States · Austin, TX, United States · Stamford, CT, United States
Frequently asked questions
Who was the founder and CEO of FTX Trading Ltd.?
Sam Bankman-Fried founded FTX in 2019 and served as CEO until the firm's bankruptcy in November 2022. Gary Wang was co-founder and CTO (per public records, 2022).
What caused FTX Trading Ltd. to collapse in 2022?
FTX collapsed following revelations that Alameda Research, the trading firm also controlled by Bankman-Fried, had borrowed billions in customer assets from FTX to cover its own trading losses. A run on deposits and a liquidity crisis led to the filing for Chapter 11 bankruptcy on November 11, 2022 (per public record, 2022).
Did FTX Trading Ltd. have a venture capital division?
Yes, FTX operated a venture investment arm called FTX Ventures, which made equity investments in companies such as SkyBridge Capital and other crypto-related projects. The division was wound down during the bankruptcy process (per public record, 2022).
Where were FTX Trading Ltd. headquartered?
FTX's operational headquarters were in the Bahamas, with additional offices in San Francisco, New York, Hong Kong, and other jurisdictions. The corporate entity FTX Trading Ltd. was based in Antigua and Barbuda (per public records, 2022).
How many employees worked at FTX at its peak?
The exact number is not publicly available, but FTX employed approximately 300 people worldwide at the time of its bankruptcy filing. The figure is subject to ongoing legal proceedings (per public record, 2022).
What assets did FTX Trading Ltd. hold?
FTX held a range of digital assets such as Bitcoin, Ethereum, and its own FTT token. The firm also held equity stakes in companies like SkyBridge Capital and real estate in the Bahamas. The total assets have been subject to bankruptcy proceedings (per public record, 2022).
What is the current status of FTX Trading Ltd.?
FTX Trading Ltd. remains in Chapter 11 bankruptcy proceedings in the United States as of 2024, with its estate attempting to recover assets and distribute proceeds to creditors (per public record, 2024).
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