FTX Trading Ltd., commonly known as FTX (short for “Futures Exchange”)
FTX is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang and, at its peak in July 2021, had over one million users and was the third-largest cryptocurrency exchange by volume. FTX is incorporated in Antigua and Barbuda and headquartered in the Bahamas. FTX is closely associated with FTX.US, a separate exchange available to US residents.
While a series of events, trials, and more corruption has been revealed since the Binance article that seemed to start the train. We still are learning more about the corruption and how FTX (SBF) was used to launder money from campaign donations to Biden to Ukraine and then rense and repeat.
FTX founder Sam Bankman-Fried is charged with more than 300 illegal political donations. He has given $42 million to Democrats & “dark money” to Republicans. CoinDesk reported, 37% of Congress took money from Bankman-Fried and other FTX executives. House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer were among the 196 senators and representatives that received funds. Here is the full list.
As part of the FTX bankruptcy, FTX debtors send messages asking for political donations to be sent back. Press Release
CoinDesk: Binance to Sell Rest of FTX Token Holdings as Alameda CEO Defends Firm’s Financial Condition
WSJ: Crypto Crisis: A Timeline of Key Events