FTX Trading Ltd., commonly known as FTX, is a bankrupt company that formerly operated a fraud-ridden cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang. At its peak in July 2021, the company had over one million users and was the third-largest cryptocurrency exchange by volume. As of November 2022, FTX was the third-largest digital currency exchange boasting an active trading volume of USD 10 billion and a valuation of USD 32 billion. 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.
The FTX Arena in Miami, Florida
Samuel Benjamin Bankman-Fried, commonly known as SBF, is an American entrepreneur who was convicted of fraud and related crimes in November 2023. Bankman-Fried founded the FTX cryptocurrency exchange and was celebrated as a "poster boy" for crypto. At the peak of his net worth, he was ranked the 41st-richest American in the Forbes 400.
Bankman-Fried at the Metropolitan Detention Center, Brooklyn in 2023 (cropped image). See also complete image showing jail context.
Daniel Patrick Moynihan U.S. Courthouse