FTX Trading Ltd., known as FTX, was a cryptocurrency exchange and crypto hedge fund co-founded by Sam Bankman-Fried and Gary Wang in May 2019. Initially developed within Alameda Research, FTX quickly became a significant player in crypto derivatives trading. The company was headquartered in The Bahamas after relocating from Hong Kong in 2021 and reached a valuation of $32 billion in early 2022. FTX offered a range of services, including spot trading, futures, options, and leveraged tokens for digital assets. It also enabled trading of fractionalized traditional equities as crypto tokens and specialized in crypto derivatives. In January 2022, FTX launched a $2 billion venture fund to invest in blockchain and fintech startups. The company aimed to attract both retail and institutional traders with its user-friendly interface and advanced trading tools.