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    Created by: EvanHarper and
    co-authors , {{coauthor.username}}

    Make a Prediction

    Prediction

    FTX is a cryptocurrency exchange, a platform for exchanging cryptocurrencies and cryptocurrency derivatives, headquartered in the Bahamas and founded by American entrepreneur Sam Bankman-Fried. In July 2019, FTX listed for sale its "exchange token" FTT, described as "the backbone of the FTX ecosystem."

    Note: The FTX exchange is distinct from FTX.US, a US-based exchange with the same owners and its own balance sheet. This question asks about the Bahamas-based FTX exchange available to international users, not the US-based FTX.US.

    On November 6th, 2022, FTX began to unravel; within days it had suspended withdrawals, been offered a distressed bailout deal by a competitor, and then seen the offer rescinded. Reportedly, SBF himself lost 94% of his net worth and dropped out of the billionaires' club.

    As of November 10th, 2022, visitors to FTX.com were greeted with a banner reading:

    FTX is currently unable to process withdrawals. We strongly advise against depositing.

    All onboarding of new clients has been suspended until further notice.

    Categories:
    Finance — Cryptocurrencies
    Crypto Counterparty Risk
    on {{qctrl.question.created_time | dateStr}}