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  • Sava Sarastov 12.A

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    Sava Sarastov
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    FTX was founded in 2019 and grew rapidly, acquiring other companies like Blockfolio in 2020. In 2022, issues arose regarding the handling of customer funds, which caused Binance to back out of an agreement to acquire FTX. On November 11th, FTX and over 100 affiliates filed for bankruptcy protection. FTT, an exchange token created by FTX, was meant to provide trading fee reductions but ultimately played a role in the company's downfall.

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    FTX

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    FTX was founded in 2019 and grew rapidly, acquiring other companies like Blockfolio in 2020. In 2022, issues arose regarding the handling of customer funds, which caused Binance to back out of an agreement to acquire FTX. On November 11th, FTX and over 100 affiliates filed for bankruptcy protection. FTT, an exchange token created by FTX, was meant to provide trading fee reductions but ultimately played a role in the company's downfall.

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    3 views8 pages

    Sava Sarastov 12.A

    Uploaded by

    Sava Sarastov
    FTX was founded in 2019 and grew rapidly, acquiring other companies like Blockfolio in 2020. In 2022, issues arose regarding the handling of customer funds, which caused Binance to back out of an agreement to acquire FTX. On November 11th, FTX and over 100 affiliates filed for bankruptcy protection. FTT, an exchange token created by FTX, was meant to provide trading fee reductions but ultimately played a role in the company's downfall.

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    FTX

    Sava Sarastov 12.A


    01 History

    Brief History of FTX


    History

    ● Founded by SBF and Ziaxiao Wang in 2019


    ● FTX meaning
    ● Binance entering the stakeholders of FTX 2019
    ● August 2020, FTX acquired Blockfolio
    ● January 2022, FTX Ventures was announced
    ● And more.
    What really
    happened?
    What is FTT and what part does it play?

    FTT ALEMADA
    FTT is an exchange token created by Alemada Research – sister company
    FTX that provides access to its of FTX, crypto exchange and
    trading platforms investing company

    Created to save on trading fees


    Binance and why they backed down

    After offering to buy FTX, Binance


    shortly backed down from the deal after
    further investigating the handling of
    customer funds.
    November 11

    FTX, FTX.US, Alemada and more than


    100 affiliates filed for bankruptcy.
    Thanks!

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