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Founded 2019
Headquarters Antigua and Barbuda
Key People Sam Bankman-Fried, Founder and CEO
Employees 35
Products Cryptocurrency derivatives trading platform
Twitter @FTX_Official
Website FTX Exchange Home
Blog FTX Blog

FTX, a cryptocurrency derivatives trading platform, launched operations on May 8, 2019. It was founded by Alameda Research. Binance purchased shares in the company in December 2019 as well as took a long-term position in the platform's FTX Token.[1]

At the time of its December 2019 investment, Binance said that FTX had an average daily volume of nearly half a billion U.S. dollars across all of its products.[2]

Products and Services


FTX offers approximately 60 "futures" contracts which can either have expiration dates or be perpetual contracts. All of the contracts are priced in U.S. dollars against a cryptocurrency or an index of cryptocurrencies. The platform offers daily, weekly, and quarterly-expiring contracts on the net price movement in the U.S. dollar value of the underlying cryptocurrency between the start and end of the period as well as leveraged directional (up, down) contracts.[3]

In April 2020, FTX launched futures on oil expiring monthly tied to the West Texas Intermediate (WTI) benchmark. The futures expire to the spot price of WTI crude oil, plus $100; at the time of the launch, the nearby month of crude oil futures on the CME Group's New York Mercantile Exchange was trading at negative price levels for the first time in history.[4] Users have to pass FTX’s KYC level 1 to be eligible to trade, and they can't be residents of the U.S., the U.K., the EU, the UAE, Canada, Hong Kong, Singapore, Cambodia, Turkey and China. The exchange's CEO Sam Bankman-Fried said that FTX was planning on launching a digital token based on the oil futures.[5][6]


FTX introduced options on January 13, 2020, listing puts and calls on bitcoin with a variety of expirations from one-day later to approximately five-and-a-half months later. The options are priced in U.S. dollars.[7]


The native token of the FTX blockchain is the FTT. The company has conducted at least three rounds of issuances of what the company refers to as its "utility" token. FTT can be used as collateral for trading on the platform and pays out a share of profits on the insurance fund that supports futures trading.[8] Depending on the amount held, holdings of at least $100 worth provide discounts on trading fees.[9]

In March 2020, FTX sold up to 15 million FT tokens which conveyed an equity interest in the company to its holders. Tokens were sold for $2.00 per token. There are no voting rights attached to the tokens.[10]