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

Founded in 2018 by Massachusetts Institute of Technology (MIT) graduate and former Jane Street Capital international exchange-traded funds (ETFs) trader Sam Bankman-Fried, FTX offered a range of trading products, including derivatives, options, volatility products, and leveraged tokens.

It also provided spot markets in more than 300 cryptocurrency trading pairs such as BTC/USDT, ETH/USDT, XRP/USDT, and its native token FTT/USDT.

In early November 2022, the exchange and the companies in its orbit began a steep fall from grace.

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.