FTX (short for Futures Exchange) is a spot and futures cryptocurrency exchange founded by owner Sam Bankman-Fried in 2019. Based in the Bahamas (with offices in Antigua and Barbuda), the exchange was once billed as a crypto trading platform “built by traders for traders”.

Additionally, it was known for being an industry-first derivative, options, volatility products, and leveraged tokens platform that catered to advanced traders as well as first-time platform users. FTX’s native token, FTT, was used by traders on the platform to minimize trading and transaction fees incurred on the FTX platform.

FTT price has been adversely affected by FTX’s bankruptcy and the subsequent dissolution of its crypto trading firm, Alameda Research. In early November 2022, documents released to the public showed that FTX and Alameda Research had maintained leveraged positions with the FTT token while insolvent. #FTT $FTT