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FTX Black Friday

Written By | Last updated on Wednesday, July 24th, 2024

FTX is a centralized crypto exchange created “by traders, for traders”, backed by significant trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures and Sequoia Capital. As of 2022, the platform has over a million registered members, and the daily trading volume has reached billions of dollars. It supports over 300 cryptocurrencies for spot trading and offers products such as derivatives, options, prediction markets, leveraged tokens, tokenized stocks, OTC desk and volatility products.

FTX Black Friday

Ftx Black Friday

Who Are the FTX Founders?

The Bahamas-based company was co-founded by Sam Bankman-Fried and Gary Wang. FTX claims to be “built by traders, for traders” and the team hails from reputable Wall Street quant firms and technology companies such as Jane Street, Optiver, Susquehanna, Facebook and Google.

Sam Bankman-Fried, more widely known as SBF in the industry, is an entrepreneur and investor. He studied at Massachusetts Institute of Technology (MIT) and graduated with a degree in physics and a minor in mathematics. Before creating FTX, he worked at Jane Street Capital and founded Alameda Research trading firm. As for Gary Wang, he serves as CTO of the company. Wang also graduated from MIT, and worked as a software engineer at Google building price aggregation systems, before teaming up with SBF to launch FTX in May 2019.

When Did FTX Launch?

The crypto derivatives trading platform was launched in May 2019.

Where Is FTX Located?

The company is incorporated in Antigua and Barbuda, headquartered in the Bahamas.

What Coins Are Supported on FTX?

The platform supports 300+ cryptocurrencies, among them BTC, ETH, SOL, LTC, XRP, DOGE.

How Much Are FTX Fees?

FTX applies a tiered maker/taker fee structure, commissions vary depending on the trading volume for 30 days and are between 0% to 0.02% for maker fees, and 0% to 0.07% for taker fees.

Moreover, users may be charged up to 0.10% for withdrawals. Creation and redemption of leveraged tokens are charged 0.10% and daily management fees are 0.03% (FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT, LEO leveraged tokens).

Is It Possible To Use Leverage or Margin Trading on FTX?

The crypto exchange offers advanced trading opportunities for both experienced traders and newbie investors: spot trading, margin trading, futures trading are available to users.

FTX supports up to 20X leverage. On the spot, qualified users have access to up to 10X markets leverage. Rates are determined by lenders, paid every hour. Also, FTX Futures offers cross-margin for a fairly wide range of coins.

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TheBlackFriday.Deals provides professional reviews fully independent of any other entity. Our reviews are unbiased, honest, and apply the same evaluation standards to all those reviewed. While monetary compensation is received from a few of the companies listed on this site, compensation of services and products have no influence on the direction or conclusions of our reviews. Nor does the compensation influence our rankings for certain brands or companies. This compensation covers account purchasing costs, testing costs and royalties paid to reviewers.