FTX
E1039074
FTX was a now-bankrupt cryptocurrency exchange that became widely known for its rapid rise, high-profile sponsorships, and dramatic collapse amid allegations of fraud and mismanagement.
Statements (74)
| Predicate | Object |
|---|---|
| instanceOf |
bankrupt company
ⓘ
cryptocurrency exchange ⓘ defunct company ⓘ |
| allegedMisuseOf | customer deposits ⓘ |
| associatedOrganization | Alameda Research NERFINISHED ⓘ |
| associatedScandal | FTX bankruptcy and fraud scandal ⓘ |
| bankruptcyFilingDate | 2022-11-11 ⓘ |
| brand |
FTX Australia
NERFINISHED
ⓘ
FTX Europe NERFINISHED ⓘ FTX Japan NERFINISHED ⓘ FTX US NERFINISHED ⓘ |
| CEO | Sam Bankman-Fried NERFINISHED ⓘ |
| coFounder |
Gary Wang
NERFINISHED
ⓘ
Sam Bankman-Fried NERFINISHED ⓘ |
| collapseContributedTo | decline in FTT token price ⓘ |
| country | Bahamas ⓘ |
| customerFundsHeld | billions of USD equivalent ⓘ |
| describedByJohnRayAs | unprecedented failure of corporate controls ⓘ |
| foundedBy |
Gary Wang
NERFINISHED
ⓘ
Sam Bankman-Fried NERFINISHED ⓘ |
| foundedDate | 2019 ⓘ |
| headquartersLocation | Nassau, Bahamas NERFINISHED ⓘ |
| impact |
erosion of trust in centralized crypto exchanges
ⓘ
losses for millions of customers and creditors ⓘ regulatory scrutiny of cryptocurrency industry ⓘ |
| industry |
cryptocurrency
ⓘ
financial services ⓘ |
| keyEvent |
Binance announcement of intent to sell FTT holdings in November 2022
ⓘ
Binance withdrawal from proposed acquisition in November 2022 ⓘ CoinDesk report on Alameda Research balance sheet in November 2022 ⓘ |
| knownFor |
allegations of customer fund misappropriation
ⓘ
allegations of fraud ⓘ collapse in November 2022 ⓘ high-profile sports sponsorships ⓘ rapid growth in cryptocurrency trading volume ⓘ |
| legalForm | corporation ⓘ |
| majorShareholder |
Alameda Research
NERFINISHED
ⓘ
Sam Bankman-Fried NERFINISHED ⓘ |
| mediaCoverage | extensive global news coverage in 2022 ⓘ |
| nativeToken | FTT NERFINISHED ⓘ |
| notableCompetitor |
Binance
NERFINISHED
ⓘ
Coinbase NERFINISHED ⓘ Kraken NERFINISHED ⓘ |
| numberOfEmployees | hundreds ⓘ |
| operatedInJurisdiction |
Australia
NERFINISHED
ⓘ
European Union NERFINISHED ⓘ Japan NERFINISHED ⓘ United States NERFINISHED ⓘ |
| parentCompany | FTX Trading Ltd. NERFINISHED ⓘ |
| postBankruptcyCEO | John J. Ray III NERFINISHED ⓘ |
| predecessorHeadquartersLocation | Hong Kong NERFINISHED ⓘ |
| product |
cryptocurrency derivatives trading
ⓘ
leveraged tokens ⓘ spot cryptocurrency trading ⓘ tokenized stocks ⓘ |
| reasonForBankruptcy |
liquidity crisis
ⓘ
run on customer deposits ⓘ |
| restructuringOfficer | John J. Ray III NERFINISHED ⓘ |
| sponsorOf |
Gisele Bündchen endorsements
ⓘ
Major League Baseball umpires NERFINISHED ⓘ Mercedes-AMG Petronas Formula One Team NERFINISHED ⓘ Miami Heat arena naming rights ⓘ Team SoloMid (TSM) NERFINISHED ⓘ Tom Brady endorsements ⓘ various esports organizations ⓘ |
| status |
in Chapter 11 bankruptcy proceedings
ⓘ
insolvent ⓘ |
| subjectOf |
Commodity Futures Trading Commission enforcement action
ⓘ
U.S. Securities and Exchange Commission enforcement action ⓘ United States Department of Justice investigation ⓘ multiple class-action lawsuits ⓘ |
| valuation | 32000000000 USD ⓘ |
| valuationDate | 2022-01 ⓘ |
| website | https://ftx.com ⓘ |
Referenced by (2)
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