What is FTX US?

The review will also discuss the platform’s benefits and drawbacks in detail, alongside providing a step-by-step guide for opening an account and depositing funds. FTX US is a cryptocurrency exchange with its headquarters in Berkeley, California. It is a subsidiary of FTX, a Hong Kong-based cryptocurrency derivatives platform registered in Antigua.

Is the FTX Exchange SAFE to use?

The FTX exchange is currently unsafe to use, as the previously third-largest crypto trading platform has collapsed and filed for bankruptcy. The previous industry-leading crypto exchange's liquidity dried up following a sudden high demand in customer withdrawals, after which the company suffered substantial financial losses and couldn't recover.

Did FTX mishandle User funds?

That’s because, around the same time, a report from The Wall Street Journal indicated that FTX used about $10 billion in customer assets to fund risky bets at Alameda Research, and Bloomberg published a report that US regulators are looking into whether FTX really did mishandle user funds.

What happened to FTX in 2022?

Cryptocurrency values rose in 2021 but started to decline in 2022, causing some exchange platforms to fold. 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.