FTX exchange
Exchange · PageRank 0.0067
Overview
FTX was a centralized cryptocurrency exchange offering spot and derivatives trading, known for its native token FTT. It collapsed into Chapter 11 bankruptcy in November 2022 after customer funds were misappropriated, and it is defunct and no longer operates. Founder Sam Bankman-Fried was convicted of fraud in November 2023 and sentenced to 25 years in prison in March 2024; the FTX bankruptcy estate began repaying creditors in 2025.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|
founded_by | Sam Bankman-Fried | 95% |
suffered_loss | ftx-bankruptcy-2022-11 | 95% |
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Frequently asked questions
Why did FTX collapse?
Reporting revealed Alameda Research's balance sheet was propped up by FTX's own FTT token; when Binance signalled it would sell FTT, a customer run drained roughly $6 billion in three days and FTX could not meet withdrawals.
What was the link between FTX and Alameda?
Both were founded by Sam Bankman-Fried; FTX lent Alameda about $10 billion of customer assets and Alameda had a secret exemption from FTX's automatic liquidation system.
Will FTX customers be repaid?
FTX's estate indicated in 2024 that most customers would be reimbursed, and courts ordered $12.7 billion in restitution and disgorgement, the largest such recovery obtained by the CFTC.
Sources
Facts on this page were verified against the following sources.