FTX Exchange: What Is It? In July 2021, FTX Exchange was the third-largest centralized cryptocurrency exchange in the world, specializing in derivatives and leveraged products. 2 FTX offered a variety of trading products, including derivatives, options, volatility products, and leveraged tokens, when it was founded in 2018 by Sam Bankman-Fried, a graduate of the Massachusetts Institute of Technology (MIT) and former trader for Jane Street Capital international exchange-traded funds (ETFs). BTC/USDT, ETH/USDT, XRP/USDT, and its native token FTT/USDT were among the more than 300 cryptocurrency trading pairs that it offered spot markets in. 3 and 4 The exchange and the businesses in its orbit began a steep decline at the beginning of November 2022. The management teams of the Bahamas-based
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