What is FTX exchange?

FTX Exchange was a leading centralized cryptocurrency exchange, the world's third-largest in July 2021, specializing in derivatives and leveraged products.

Is FTX a scam?

FTX appeared to stay strong -- until news broke of an elaborate scam. The popularity of cryptocurrency exchange platform FTX rose rapidly after it was launched in 2019. However, FTX came crashing down in November 2022. Cryptocurrency has become popular for investments and sending payments to other people and merchants.

Does FTX have a US affiliate?

Bahamas-based FTX and its FTX US affiliate had overlapping management teams but separate capital structures. U.S. residents could only trade through FTX US. FTX was a centralized cryptocurrency exchange specializing in derivatives and leveraged products that filed for bankruptcy protection in the U.S. in November 2022.

Is FTX a good cryptocurrency exchange for a bankruptcy filing?

Last month, FTX was one of the most popular cryptocurrency exchanges in the world. Today, it is figuring out how to sell off assets, pay customers and satisfy creditors as part of a large and complex bankruptcy filing.