What is FTX US derivatives?

FTX US Derivatives is licensed as Derivatives Clearing Organization, Swap Execution Facility and Designated Contract Market by the U.S. Commodity Futures Trading Commission (CFTC). FTX competitive futures and spot markets trading fees ranged from 0.04% to 0.07% for market takers, based on the maker and taker model, as of September 2022.

What happened to FTX?

Its fall has rippled through the industry: Lenders such as BlockFi and Genesis have announced pauses in operations. The price of FTT, a native cryptocurrency token for FTX, has dropped more than 90 percent since Nov. 8. The price of Bitcoin is down about 19 percent this month, and the price of Ether is down about 24 percent.

Is FTX the second largest creditor?

In the company’s bankruptcy filing, it lists FTX as its second-largest creditor at $275 million. In a bid to reassure investors, some exchanges have committed to publishing proof of reserves to show users that they aren’t using their money to fund risky bets.

Why do traders use FTT?

Traders use FTT for operations like paying transaction fees. Last year, Changpeng Zhao, the chief executive of Binance, sold his stake in FTX back to Mr. Bankman-Fried, who paid for it partially with FTT tokens.