Difference between revisions of "Timeline of FTX"

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| 2021 || March 4 || Sam Bankman-Fried || || The Hurun Research Institute in China publishes a list of the top three "blockchain billionaires," with Brian Armstrong, CEO of Coinbase, in the top spot. Sam Bankman-Fried is newly added to the list and is in second place with a reported wealth of around $10 billion. Changpeng Zhao, CEO of Binance, is in third place on the list.<ref>{{cite web |last1=Frost |first1=Decrypt / Liam |title=FTX CEO Sam Bankman-Fried Ranked as Second-Biggest Blockchain Billionaire |url=https://decrypt.co/60185/ftx-ceo-sam-bankman-fried-ranked-as-second-biggest-blockchain-billionaire |website=Decrypt |access-date=28 December 2022 |date=4 March 2021}}</ref>
 
| 2021 || March 4 || Sam Bankman-Fried || || The Hurun Research Institute in China publishes a list of the top three "blockchain billionaires," with Brian Armstrong, CEO of Coinbase, in the top spot. Sam Bankman-Fried is newly added to the list and is in second place with a reported wealth of around $10 billion. Changpeng Zhao, CEO of Binance, is in third place on the list.<ref>{{cite web |last1=Frost |first1=Decrypt / Liam |title=FTX CEO Sam Bankman-Fried Ranked as Second-Biggest Blockchain Billionaire |url=https://decrypt.co/60185/ftx-ceo-sam-bankman-fried-ranked-as-second-biggest-blockchain-billionaire |website=Decrypt |access-date=28 December 2022 |date=4 March 2021}}</ref>
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| 2021 || March 26 || || || FTX wins the naming rights to the American Airlines Arena, home to the Miami Heat NBA team. The deal, worth $135 million over 19 years, is approved by the Miami-Dade Board of County Commissioners. The naming rights deal follows the City of Miami's efforts to rebrand itself as a hub for the cryptocurrency industry. The city has announced that its employees can be paid in bitcoin and its mayor has stated that Miami is "positioning ourselves as a city as one of the most tech-friendly cities in America".<ref>{{cite web |last1=Pound |first1=Jesse |title=Crypto industry to get first major U.S. stadium with Miami-Dade County approving FTX for Heat home |url=https://www.cnbc.com/2021/03/26/crypto-industry-to-get-first-major-us-stadium-with-miami-dade-county-approving-ftx-for-heat-home.html |website=CNBC |access-date=28 December 2022 |language=en}}</ref>
 
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| 2021 || March || FTX || || FTX signs a $135 million sponsorship deal for naming rights of the Miami Heat’s home court.<ref>{{cite web |title=FTX Inks $135M Sponsorship Deal for Miami Heat Arena |url=https://blockworks.co/news/ftx-inks-135m-sponsorship-deal-for-miami-heat-arena |website=Blockworks |access-date=8 December 2022 |language=en |date=23 March 2021}}</ref>
 
| 2021 || March || FTX || || FTX signs a $135 million sponsorship deal for naming rights of the Miami Heat’s home court.<ref>{{cite web |title=FTX Inks $135M Sponsorship Deal for Miami Heat Arena |url=https://blockworks.co/news/ftx-inks-135m-sponsorship-deal-for-miami-heat-arena |website=Blockworks |access-date=8 December 2022 |language=en |date=23 March 2021}}</ref>

Revision as of 22:12, 27 December 2022

This page is about a topic potentially related to FTX, Alameda Research, Sam Bankman-Fried, or the FTX Future Fund. Other content on this wiki has been compensated by the Future Fund Regranting Program that used funds from the FTX Future Fund. These funds likely came from the FTX Foundation that was funded partly or wholly by money made by FTX, Alameda Research, or Sam Bankman-Fried. As such, there is a theoretical possibility of conflict of interest.
View all pages with possible conflicts of interest due to funding from Future Fund Regranting Program | View pages work on which was to be funded by the Future Fund Regranting Program

This is a timeline of FTX, a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund.

Sample questions

The following are some interesting questions that can be answered by reading this timeline:

Big picture

Time period Development summary More details

Key statistics

The table below shows rounded out figures illustrating the evolution of FTX throughout the years.[1]

Year Annual revenue (USD) Net income (USD) Users Peak trading volume (USD) Annual crypto exchange volume (USD)
2019 7,200,000 100,000 27,000,000,000
2020 85,000,000 17,000,000 1,000,000 7,000,000,000 385,000,000,000
2021 1,021,000,000 388,000,000 1,200,000 21,000,000,000 719,000,000,000

Investors

The table below shows FTX's investors, according to private market data provider PitchBook.[2]

Year Investors
2019 Tiger Global Management, Insight Partners, SoftBank Investment Advisors, Temasek, Telstra Ventures, Teachers Venture Growth, Steadview Capital Management, Redline DAO, Paradigm, New Enterprise Associates, Lightspeed Ventures, 500 Global, Binance Labs, Consensus Lab, FBG Capital, Galois Capital, Greylock Capital Management, Lemniscap, Race Capital, IVP, HOF Capital.
2020 Bitscale Capital, BR Capital, Evangelion Capital, Exnetwork Capital, Genblock Capital, Insignius Capital, Pantera Capital.
2021 BlackRock, Tom Brady, Gisele Bundchen, Samsung NEXT Ventures, Sequoia Capital, Coinbase Ventures, Base10 Partners, Astronaut Capital, AGE Crypto, Vetamer Capital, Senator Investment Group, Sea Capital, Paradigm, Meritech Capital Partners, ICONIQ Growth, Third Point Ventures, Thoma Bravo, Kevin O'Leary, Willoughby Capital, Digital Currency Group, Third Point, Tribe Capital, Bond Capital, Standard Investments, Circle , Ribbit Capital, Multicoin Capital, Mayfield, 6ixth Event, Abstract Ventures, Alan Howard, Altimeter Capital Management, Bond, Schoeneck & King, DHVC, Israel Englander, Mark VC.
2022 Temasek, SoftBank Vision Fund 2, Ontario Teachers Pension Plan, K5 Global, MiH Ventures, Mint Ventures, NKB Ventures, Signum Capital, Alchemy Ventures, Lux Capital, Fenrir, Claritas Capital, Hard Yaka, Early Capital Group, Chapter One Ventures, One Block Capital, Chainfund Capital, A'Z Angels, Allied Investors Group, ArkStream Capital.

Full timeline

Year Month and date Entity Event type Details
1992 March 6 SBF biography Sam Bankman-Fried is born in Stanford, California, to Barbara Fried and Joseph Bankman, both law professors from Stanford University. SBF would be raised the midst of a strong philosophy of utilitarianism.[3]
2014 SBF biography SBF graduates at the Massachusetts Institute of Technology with a bachelor's degree in physics and a minor in mathematics.[3]
2015 Gary Wang graduates with a Bachelor's degree in math and computer science.
2017 June Nishad Singh graduates from University of California, Berkeley.
2017 September SBF quits Jane Street Capital and moves to Berkeley, California.[4]
2017 November Alameda Research is founded in Berkeley, California by SBF and Gary Wang as a crypto hedge fund.
2018 January SBF organizes an arbitrage operation, moving up to $25 million a day, to take advantage of the higher price of bitcoin in Japan compared to the price in the United States. This arbitrage opportunity allows Alameda Research to win $20 million in a single day.[3]
2019 April Dotcom Silo is founded in Hong Kong by SBF, Gary Wang, and Nishad Singh.
2019 May FTX FTX Trading Ltd is incorporated in Antigua and Barbuda.[1] It is founded by SBF as a centralized crypto exchange that specializes in derivatives and leveraged products. FTX is an abbreviation of "Futures Exchange". This exchange that initially worked within the structure of Alameda Research.[3]
2019 July FTX FTT token is launched.[5]
2019 August 7 FTX has raises $8m in its seed funding round, attracting major investors including Proof-of-Capital, Consensus Lab, FBG and Galois Capital.[6]
2019 October FTX launches an index of eight popular China-related cryptocurrencies, as well as futures contracts based on the index. The Dragon Perpetual Futures Index (DRGN-PERP) tracks a basket of coins including BTM, IOST, NEO, NULS, ONT, QTUM, TRX, and VET, based on a weighted average of their respective prices. FTX offers traders exposure to the coins through perpetual futures contracts, which can be leveraged up to 101 times. By this time FTX, which is based in Antigua and Barbuda, has a history of offering unconventional indices, including the Shitcoin Perpetual Futures Index in August. The launch of DRGN-PERP follows Chinese President Xi Jinping's recent call for the adoption of blockchain technology across a range of sectors, which caused a surge in interest in Chinese blockchain and tech stocks.[7]
2019 November Series A. funding round. As part of a strategic partnership, Binance invests an undisclosed amount of money in FTX.[8] SBF states that “the investment will help accelerate the growth of FTX with support and strategic advisory from Binance while FTX maintains its independent operations.”[9]
2019 December Legal A United States district court in California dismisses a lawsuit brought against FTX for market manipulation and the sale of unlicensed securities. The lawsuit, filed by entity Bitcoin Manipulation Abatement LLC, sought $150 million in damages from FTX. The complaint also alleged that FTX ran an unlicensed money transmitting business with its OTC desk and accused the exchange of attempting to attack Binance. The court finds that the plaintiff failed to meet the requirements of the Federal Rules of Civil Procedure and dismisses the case with prejudice.[10]
2020 January West Realm Shires Inc. (also known as FTX US) is founded by SBF, Gary Wang, and Nishad Singh.[11]
2020 February Product FTX launches a futures contract, called TRUMP-2020 (TRUMP), which allows users to monetize their predictions of the outcome of the 2020 United States presidential election. The TRUMP futures contract would expire at $1 if Donald Trump is re-elected, and at $0 if he is not. The contract would be settled based on projections from major media outlets if a candidate is deemed the winner before all states have released their official vote counts. At this time, trading on FTX is not available in the United States and the TRUMP futures contract cannot be traded by residents of the US, EU, UK, Hong Kong, Singapore, and other prohibited jurisdictions.[12]
2020 February FTX becomes the fifth largest exchange by volume, according to data from Alameda Research. The exchange is just below BitMEX, with $1.1 billion in reported and adjusted trading volume. Huobi Global ranks first, with $6.9 billion in adjusted volume, while OKEx, Binance, and BitMEX have $6.5, $4.2, and $3.7 billion in volume, respectively. FTX attributes its success to its screening methodology, which it claims filters out fake volume from other exchanges to provide a more accurate depiction of true trading volume.[13]
2020 March 2 An attempt to manipulate the price of FTT on Binance through a pump-and-dump scheme is found. Pump-and-dump schemes involve artificially inflating the price of a cryptocurrency through coordinated buying, then selling off the coins at a higher price once the price has been driven up. These types of schemes are not uncommon in the cryptocurrency world and can be difficult to detect and prevent.[14]
2020 March 30 Binance announces that it will delist all 25 of the FTX leveraged tokens due to a lack of understanding of how they work among many of its users. FTX leveraged tokens are ERC-20 tokens that allow traders to gain exposure to FTX's perpetual futures with up to 3x leverage. For every future on FTX, there are three leveraged tokens available: BULL for long positions, BEAR for short positions, and HEDGE for hedging against market direction. Binance will delist BULL, BEAR, ETHBULL, ETHBEAR, EOSBULL, EOSBEAR, BNBBULL, BNBBEAR, XRPBULL and XRPBEAR assets, and their trading pairs against USDT and BUSD. Binance invested "tens of millions" of dollars in FTX in December 2019.[15][16]
2020 April 22 Product FTX launches oil futures contracts following the historic drop in the price of oil in the United States. The contracts would expire at the spot West Texas Intermediate (WTI) prices, plus $100 to protect against any negative settlement rate. However, FTX notes that "if the spot price of oil goes below minus $100, FTX OIL contracts can theoretically expire negative." To trade the crude oil futures on FTX, traders must clear level 1 Know Your Customer (KYC) checks, and are restricted if they are based in certain countries including the US, Canada, and the European Union.[17]
2020 May 26 Coinbase Custody announces that it will provide primary custodian services for FTT. Coinbase Custody was chosen after its storage solution passed FTX's review and scrutiny, and it has affirmed its commitment to serving a range of institutional clients including exchanges, brokerages, and hedge funds. At this time, FTX is one of the largest exchange clients of Coinbase Custody. The announcement comes as FTX launched its new trading platform for US users, offering liquidity, leverage, and competitive fees on six coins: BTC, ETH, BCH, LTC, PAXG, and USDT.[18]
2020 July 28 FTX introduces zero-confirmation transfers via Fireblocks. The latter, a digital asset security and transfer platform, has launched its Deposit Acceleration Program, which aims to provide the fastest on-chain settlement times for the crypto buy-side. The program aims to bring new institutional trading volume to exchanges and accelerate on-chain trading operations for digital asset businesses. The first exchange to join the program is FTX. The program enables Fireblocks customers to deploy assets onto the FTX exchange in real-time with zero confirmations.[19][20]
2020 August Acquisition FTX acquires cryptocurrency portfolio tracking app Blockfolio, for $150 million.[21] FTX plans to collaborate with Blockfolio on a retail trading application. Blockfolio's portfolio tracker provides users with a broad overview of the direction of the cryptocurrency market by taking price feeds of major cryptocurrencies from hundreds of exchanges.[22] It is through this app that FTX would acquire most of its mobile users.[1]
2020 September 6 Chef Nomi, the creator of SushiSwap, a decentralized finance (DeFi) protocol, transfers control of the project to Sam Bankman-Fried. Nomi faced criticism from the SushiSwap community after withdrawing $13 million from the project's liquidity pool on Uniswap. SBF tweeted his disapproval and called for Nomi to step down.[23]
2020 September 9 FTX announces it will host the initial exchange offering (IEO) for the Upbots utility token, UBXT. Upbots is a Swiss trading platform that aims to provide a one-stop dashboard for both professional and amateur traders. It connects to centralized exchanges through APIs and decentralized exchanges through a partnership with DEX.AG, and also offers charting and risk management tools. The main business model for Upbots is a marketplace for trading signals, bots, and social copy trading, with users paying a subscription fee or commission based on their earnings. UBXT tokens can be used to subscribe to online learning courses and for parts of the platform, and can also be staked for discounts on subscription fees.[24]
2020 October 28 Partnership FTX partners with crypto trading platform Hxro to launch TixWix, a trading product that allows users to play live odds on the crypto market. TixWix simplifies the process of trading crypto options by allowing traders to take positions based on live market odds. For example, if the market prices in a 33% chance that Bitcoin will finish the year above a certain price, a trader can take a position that will pay out 3x if correct. TixWix combines Hxro's front-end user experience with FTX's liquidity and backend technology, and is planned to be available in Asia-Pacific, EMEA, Oceania, and LatAm regions.[25]
2020 October 29 Product FTX launches tokenized equity trading on its platform through partnerships with German financial firm CM Equity AG and Swiss-based Digital Assets AG. This allows FTX users to trade and redeem equities that trade on the US stock market, including Facebook, Netflix, Tesla, Amazon, and the SPDR S&P 500 exchange-traded fund. The tokenized equity trading is open 24/7, unlike traditional equities markets, and allows users to trade fractions of the tokenized equities they purchase, similar to the trading app Robinhood. However, FTX's tokenized equity trading is not available in the United States and other restricted regions. The launch is significant for the blockchain and digital currency industry as it represents a step towards the digitization of traditional assets and securities on the blockchain.[26][27][28]
2020 November 3 Alameda Research Alameda Research invests $3 million in 3Commas, a trading platform for retail investors. 3Commas was launched in 2017 in Estonia. By this time, the platform has 100,000 active traders and offers a range of pre-determined trading strategies through its bots, which allow users to leave their assets on autopilot and receive notifications when trades are completed.[29]
2020 November 5 Politics Sam Bankman-Fried donates $5.2 million to Joe Biden's presidential campaign. This contribution is part of a larger group of donations totaling $79.5 million from the top 100 CEO donors to Biden's campaign. Michael Bloomberg, co-founder of the financial and media company bearing his name, is the largest CEO contributor to the campaign, with a donation of $56 million.[30]
2020 November 16 Product UpBots, a platform for traders, launches a staking program for its native token, UBXT. The program is exclusively provided by FTX and allows users to stake their UBXT tokens for a minimum of 10,000 tokens and a maximum of 1 million tokens. While their tokens are staked, users would receive an annual percentage return of 25% and have access to three trading algorithm bots, as well as other features included in UpBots' MVP. Token-based rewards are distributed on an hourly basis, with half of the annual percentage return being unlocked and the other half added to the locked amount. UpBots aims to become an all-in-one trading ecosystem, providing automated trading bots, customizable algorithms, a cross-platform cryptocurrency wallet, and support for CEX and DEX exchanges. It also allows users to develop their own algorithms and trading bots, which can be rented out to other traders.[31]
2020 December 14 The Digital Assets and Registered Exchanges Act (‘DARE’ or the ‘Act’) comes into effect in The Bahamas.[32]
2020 Year round FTX According to financial statements, FTX manages to generate an operating profit of $14.4 million on revenue of $89.9 million in the year, its first full year in business.[33]
2021 January 20 Alameda Research Cape Town-based cryptocurrency exchange Ovex receives investment from Alameda Research. Founded in 2019, Ovex specializes in over-the-counter trading and arbitrage, offering South Africa's largest selection of digital asset markets. The company aims to improve the efficiency of the cryptocurrency market in South Africa and increase financial inclusivity. It has a monthly trading volume of $270m and a valuation of over ZAR1bn ($68m).[34]
2021 January 28 FTX FTX partners with blockchain company Circle, with the purpose to allow its users to make near-instant Automated Clearing House (ACH) payments in the United States using USDC stablecoins, which are pegged to the US dollar and issued by Circle. The payments would be available on the Ethereum and Solana blockchains. Circle and FTX also collaborate with financial data transfer network Plaid to enable quick customer bank account verification. This partnership allows cryptocurrency users to access traditional banking more easily and enables FTX customers to make a bank transfer and convert it into USDC for trading or other purposes without waiting for standard ACH transactions.[35]
2021 January 29 FTX FTX creates a new index called the Wall Street Bets Index, which follows the prices of several assets including GameStop (GME), AMC Entertainment (AMC), and Dogecoin (DOGE). The index trades as a futures contract with expiration on March 26, 2021 and is "cash settled vs the index of tokenized share markets on FTX." The index is made up of seven assets, each with a weight of 16.5% except for FTT, which has a weight of 1%. Its creation follows the recent rise in the price of these assets, which has been attributed to the Reddit group r/Wallstreetbets and their efforts to pump the prices of certain stocks.[36]
2021 February 1 FTX adds tokenized stocks and futures for silver to its platform in response to the high demand for the precious metal.[37]
2021 February 24 Alameda Research leads a $40 million investment round in Oxygen, a decentralized finance (DeFi) platform built on the Solana blockchain. Oxygen aims to make DeFi more accessible and user-friendly, similar to how Robinhood has made stocks more accessible to the general public.[38]
2021 March 4 Sam Bankman-Fried The Hurun Research Institute in China publishes a list of the top three "blockchain billionaires," with Brian Armstrong, CEO of Coinbase, in the top spot. Sam Bankman-Fried is newly added to the list and is in second place with a reported wealth of around $10 billion. Changpeng Zhao, CEO of Binance, is in third place on the list.[39]
2021 March 26 FTX wins the naming rights to the American Airlines Arena, home to the Miami Heat NBA team. The deal, worth $135 million over 19 years, is approved by the Miami-Dade Board of County Commissioners. The naming rights deal follows the City of Miami's efforts to rebrand itself as a hub for the cryptocurrency industry. The city has announced that its employees can be paid in bitcoin and its mayor has stated that Miami is "positioning ourselves as a city as one of the most tech-friendly cities in America".[40]
2021 March FTX FTX signs a $135 million sponsorship deal for naming rights of the Miami Heat’s home court.[41]
2021 June FTX FTX takes over the rights of what was formerly known as the American Airlines Arena.[42]
2021 July FTX FTX raises 900 million dollars, reaching a valuation of more than $18 billion. More than 60 investors enter, including Softbank, Sequoia Capital and other companies.[43]
2021 July FTX FTX Digital Markets is formed in Bahamas, and is duly registered as a digital asset business under The Bahamas' Digital Assets and Registered Exchanges Act, 2020 (the "DARE Act").[44]
2021 July Acquisition FTX signs a deal with an option to buy digital asset lender BlockFi for up to $240 million.[45]
2021 July FTX receives $1 Billion in Series B financing. Investors include Sequoia, Paradigm, and Thoma Bravo. Binance divests its entire equity stake.
2021 August As of date, SBF still owns 90% of Alameda Research.[46]
2021 September FTX moves its headquarters from Hong Kong to The Bahamas.[47]
2021 September FTX signs a sponsorship deal with Mercedes’ Formula 1 team.[48]
2021 September Golden State Warriors and three-time NBA champion Stephen Curry becomes a global ambassador for FTX. He also receives an equity stake in FTX Trading Limited as part of the agreement. FTX US and its NFT marketplace become the Warriors’ official cryptocurrency platform.[42]
2021 September SBF in Bahamas announces FTX DM registration with SCB.
2021 October FTX FTX receives $420 million in Series B-1 funding, reaching a valuation of $25 billion. Investors include the OTPPB, Tiger Global, and BlackRock.
2022 January 14 FTX FTX announces a $2 billion venture fund named FTX Ventures.[49]
2022 January FTX FTX receives $500 million in Series C funding round. Investors include Paradigm, SoftBank and Temasek.
2022 January 26 FTX.US FTX US receives $400 million in Series A funding round, reaching a valuation of $8 billion.[50] Investors include Multicoin, Paradigm, Sequoia, SoftBank and Temasek.
2022 January 31 FTX FTX raises $400 million at a valuation of $32 billion. Investors include SoftBank.[51]
2022 February FTX It is reported that FTX is creating a gaming division that would help developers add cryptocurrency, NFTs, and other blockchain-related assets into video games.[52]
2022 March 10 Charity FTX announces the launch of the FTX Foundation, a charitable organization that would partner with organizations such as Effective Altruism, GiveWell, The Humane League, and OpenAI. FTX pledges to allocate 1% of its revenue from fees to the foundation. The foundation would allow the FTX community to vote on which issues, such as the pandemic, climate change, or global poverty, it should address. Sam Bankman-Fried states that the foundation is created in order to have a more official way to make a positive impact on the world through charitable donations.[53]
2022 April FTX The Golden State Warriors drops its second NFT collection on the FTX NFT marketplace, commemorating its 2022 NBA playoffs performance.[42]
2022 May FTX.US WRS moves headquarters to Chicago.[54]
2022 May Sam Bankman-Fried SBF testifies to the United States Congress during a hearing titled “Changing Market Roles.”[55]
2022 June 6 FTX SBF tweets:
Zig Zag and hiring:

why FTX is going to keep growing as others cut jobs.[56]

Later that month, FTX would lay off around 20 people, mostly in the Bahamas, according to people familiar with the matter, as "FTX required some to sign nondisclosure agreements."[33]
2022 June Alameda Research Alameda Research lends cryptocurrency brokerage company Voyager Digital $500 million to keep their operations afloat in the midst of crypto winter.[57]
2022 June Sam Bankman-Fried SBF signs the Giving Pledge.[3]
2022 July 6 Voyager Digital declares bankruptcy, announcing it and its U.S. affiliates having commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York.[58] In its bankruptcy presentation, Voyager shows Alameda Research owes them $377 million.[59]
2022 August 19 FTX The Federal Deposit Insurance Corporation (FDIC) issues a cease-and-desist order to FTX for making "false and misleading representations" about deposits being covered by FDIC insurance following FTX president Brett Harrison's tweet implying otherwise.[60] Following the regulatory action, Harrison would delete[61] the tweet and SBF would clarify in a tweet that FTX deposits are not insured by the FDIC.[62]
2022 August 24 Alameda Research Resignation Alameda Research co-CEO Sam Trabucco announces his resignation on Twitter, leaving co-CEO Caroline Ellison as the sole CEO, and announces he will remain in the capacity of adviser. Trabucco tweets:
I guess that's about it. My time at Alameda has been the most formative of my life. I've learned how to think, I've found out how far I can push myself, and I've been gifted the incredible experience of being in the trenches with lifelong friends -- and *winning*.[63]
2022 September FTX.US WRS starts moving headquarters to Miami.[64]
2022 September 21 FTX FTX negotiates with potential investors to raise up to US$1 billion in new funding that would keep the company’s valuation at roughly $32 billion. Investors include Singapore’s Temasek Holdings, SoftBank Vision Fund 2 and Tiger Global Management.[65]
2022 October FTX It is reported that FTX was under investigation in Texas for allegedly selling unregistered securities.[66]
2022 November 2 Alameda Research Crypto website CoinDesk publishes an article with details from a leaked copy of Alameda Research financials.[67]
2022 November 10 FTX Foundation (Future Fund) The team running the FTX Future Fund, a charitable group bankrolled by Bankman-Fried, announces having resigned.[68]
2022 November 11 Alameda Research, FTX SBF announces on Twitter that he has voluntarily declared the bankruptcy of Alameda and FTX.

Meta information on the timeline

How the timeline was built

The initial version of the timeline was written by FIXME.

Funding information for this timeline is available.

Feedback and comments

Feedback for the timeline can be provided at the following places:

  • FIXME

What the timeline is still missing

  1. https://www.businessofapps.com/data/ftx-statistics/
  2. https://www.youtube.com/watch?v=2D5PcagsgDQ
  3. https://www.youtube.com/watch?v=LWq77i9mIRE
  4. Now-deleted Sequoia profile of FTX covers a lot of details about how it was founded
  5. https://forum.effectivealtruism.org/posts/KBw6wKDbvmqacbB5M/crypto-markets-ea-funding-and-optics
  6. https://80000hours.org/stories/sam-bankman-fried/
  7. https://www.youtube.com/watch?v=vc5HXxxwMrg&t=945
  8. https://conversationswithtyler.com/episodes/sam-bankman-fried/
  9. https://d1e00ek4ebabms.cloudfront.net/production/uploaded-files/Day%201%20Hearing%20Exhibits-f456313e-1554-4503-a0ad-ccecf8e38603.pdf

Timeline update strategy

See also

External links

References

  1. ↑ 1.0 1.1 1.2 "FTX Revenue and Usage Statistics (2022)". Business of Apps. 13 October 2021. Retrieved 30 November 2022. 
  2. ↑ "Rise and fall of crypto exchange FTX". Reuters. 17 November 2022. Retrieved 6 December 2022. 
  3. ↑ 3.0 3.1 3.2 3.3 3.4 Academy, Bit2Me (22 November 2022). "Who is Sam Bankman-Fried?". academy.bit2me.com. Retrieved 6 December 2022. 
  4. ↑ "Is Sam Bankman-Fried Gay? Does He Have Husband Or Wife ?". geniuscelebs.com. 13 November 2022. Retrieved 8 December 2022. 
  5. ↑ "FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token's Questionable Tokenomics Highlights Red Flags – Altcoins Bitcoin News". news.bitcoin.com. Retrieved 8 December 2022. 
  6. ↑ "Crypto Derivatives Platform FTX Raises $8 Million in Seed Round". Financial and Business News | Finance Magnates. Retrieved 26 December 2022. 
  7. ↑ Palmer, Daniel (29 October 2019). "FTX Launches Futures on Index of 8 China Cryptos Amid Xi Blockchain Pump". www.coindesk.com. Retrieved 26 December 2022. 
  8. ↑ Foxley, William (20 December 2019). "Binance Invests Undisclosed Sum in Crypto Derivatives Platform FTX". www.coindesk.com. Retrieved 8 December 2022. 
  9. ↑ "Binance Announces Strategic Investment in Cryptocurrency Derivatives Exchange FTX". Binance Blog. Retrieved 8 December 2022. 
  10. ↑ "US Court Dismisses $150 Million Lawsuit Against Crypto Exchange FTX". Financial and Business News | Finance Magnates. Retrieved 26 December 2022. 
  11. ↑ "IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE" (PDF). d1e00ek4ebabms.cloudfront.net. Retrieved 8 December 2022. 
  12. ↑ "FTX users can now trade reelection futures contract for President Trump". finance.yahoo.com. Retrieved 26 December 2022. 
  13. ↑ Garg, Priyeshu (21 February 2020). "FTX Joins Top 5 Crypto Exchanges by Volume". Crypto Briefing. Retrieved 26 December 2022. 
  14. ↑ Lucian, Anton (2 March 2020). "Someone Tried to Pump and Dump FTX Token (FTT) on Binance". BeInCrypto. Retrieved 26 December 2022. 
  15. ↑ "Binance to delist FTX leveraged tokens". finance.yahoo.com. Retrieved 26 December 2022. 
  16. ↑ Lucian, Anton (29 March 2020). "Binance to Delist All FTX Leveraged Tokens to 'Protect Users'". BeInCrypto. Retrieved 26 December 2022. 
  17. ↑ "FTX Launches Oil Futures with $100 Buffer | Finance Magnates". Financial and Business News | Finance Magnates. Retrieved 26 December 2022. 
  18. ↑ Abel, Daniel (26 May 2020). "Coinbase Custody Selected to Store FTX Exchange Token". Altcoin Buzz. Retrieved 26 December 2022. 
  19. ↑ "Crypto derivatives exchange FTX introduces zero-confirmation transfers via Fireblocks". CryptoNinjas. 28 July 2020. Retrieved 27 December 2022. 
  20. ↑ "Zero-Confirmation Asset Transfers Launch on FTX". www.prnewswire.com. Retrieved 27 December 2022. 
  21. ↑ Dillet, Romain (26 August 2020). "Cryptocurrency exchange FTX acquires portfolio tracker Blockfolio". TechCrunch. Retrieved 28 November 2022. 
  22. ↑ Stevens, Decrypt / Robert (25 August 2020). "Crypto exchange FTX buys Blockfolio for $150 million". Decrypt. Retrieved 27 December 2022. 
  23. ↑ Stevens, Decrypt / Robert (6 September 2020). "$SUSHI Price Doubles After Creator Shifts Control To FTX CEO". Decrypt. Retrieved 28 December 2022. 
  24. ↑ Watson, Andy (9 September 2020). "FTX Will Host IEO for Trading Platform Upbots". Coinspeaker. Retrieved 27 December 2022. 
  25. ↑ "Hxro and FTX partner to launch TixWix for crypto trading". www.wealthadviser.co. 28 October 2020. Retrieved 27 December 2022. 
  26. ↑ Thompson, Patrick (29 October 2020). "FTX launches tokenized equity trading". CoinGeek. Retrieved 27 December 2022. 
  27. ↑ Avan-Nomayo, Osato (29 October 2020). "FTX Crypto Exchange Debuts Tokenized Stock Trading". BeInCrypto. Retrieved 27 December 2022. 
  28. ↑ "Tesla meets crypto as FTX launches fractionalized stock trading". Cointelegraph. Retrieved 27 December 2022. 
  29. ↑ Wang, Doreen (3 November 2020). "Alameda Research Invests $3M in 3Commas Crypto Trading Platform". www.coindesk.com. Retrieved 28 December 2022. 
  30. ↑ "CEO of crypto derivatives exchange FTX donated $5M to Biden campaign". Cointelegraph. Retrieved 28 December 2022. 
  31. ↑ "FTX Launches UpBots (UBXT) Staking program | Bitcoinist.com". bitcoinist.com. 16 November 2020. Retrieved 28 December 2022. 
  32. ↑ "Bahamas: 15 FAQs on the digital assets and registered exchanges ('dare". www.iflr1000.com. Retrieved 8 December 2022. 
  33. ↑ 33.0 33.1 Grossman, Alexander Osipovich, Caitlin Ostroff, Patricia Kowsmann, Angel Au-Yeung and Matt. "They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried's Doomed FTX Empire". WSJ. Retrieved 25 November 2022. 
  34. ↑ "Crypto Exchange Ovex Closes Strategic Investment From FTX And Is Now SA's Largest OTC - TechFinancials". techfinancials.co.za. 20 January 2021. Retrieved 28 December 2022. 
  35. ↑ Chawla, Vishal (28 January 2021). "FTX Exchange Introduces ACH Support With Circle's USDC". Crypto Briefing. Retrieved 28 December 2022. 
  36. ↑ "FTX created a r/Wallstreetbets index including GME, DOGE and others". Cointelegraph. Retrieved 28 December 2022. 
  37. ↑ Williams, Chris (1 February 2021). "FTX Adds Silver Stocks Amid Reddit-Led Market Surge". Crypto Briefing. Retrieved 28 December 2022. 
  38. ↑ Allison, Ian (24 February 2021). "Alameda Leads $40M Round in 'DeFi Prime Brokerage,' Plans Maps.me Integration". www.coindesk.com. Retrieved 28 December 2022. 
  39. ↑ Frost, Decrypt / Liam (4 March 2021). "FTX CEO Sam Bankman-Fried Ranked as Second-Biggest Blockchain Billionaire". Decrypt. Retrieved 28 December 2022. 
  40. ↑ Pound, Jesse. "Crypto industry to get first major U.S. stadium with Miami-Dade County approving FTX for Heat home". CNBC. Retrieved 28 December 2022. 
  41. ↑ "FTX Inks $135M Sponsorship Deal for Miami Heat Arena". Blockworks. 23 March 2021. Retrieved 8 December 2022. 
  42. ↑ 42.0 42.1 42.2 "Golden State Warriors and Miami Heat Axe FTX Deals". Blockworks. 15 November 2022. Retrieved 26 November 2022. 
  43. ↑ Seward, Zack (20 July 2021). "FTX Crypto Exchange Valued at $18B in $900M Funding Round". www.coindesk.com. Retrieved 6 December 2022. 
  44. ↑ "Securities Commission Statement On Transfer Motion In FTX Digital Markets Chapter 15 Proceedings - Fin Tech - Bahamas". www.mondaq.com. Retrieved 29 November 2022. 
  45. ↑ "FTX signs deal with option to buy BlockFi for up to $240 mln". Reuters. 1 July 2022. Retrieved 8 December 2022. 
  46. ↑ "Portrait of a 29-year-old billionaire: Can Sam Bankman-Fried make his risky crypto business work?". finance.yahoo.com. Retrieved 29 November 2022. 
  47. ↑ "Bankman-Fried's Crypto Exchange FTX Leaves Hong Kong for Bahamas". Bloomberg.com. 24 September 2021. Retrieved 28 November 2022. 
  48. ↑ "F1 team Mercedes suspends sponsorship deal with FTX". AP NEWS. 11 November 2022. Retrieved 8 December 2022. 
  49. ↑ Chernova, Yuliya (14 January 2022). "WSJ News Exclusive | Crypto Exchange FTX Sets Up $2 Billion Venture Fund". Wall Street Journal. Retrieved 28 November 2022. 
  50. ↑ "FTX US Closes $400M Series A Funding At $8 Billion Valuation". FinSMEs. 26 January 2022. Retrieved 8 December 2022. 
  51. ↑ Wilson, Tom (31 January 2022). "Crypto exchange FTX valued at $32 bln as SoftBank invests". Reuters. Retrieved 6 December 2022. 
  52. ↑ Gariffo, Michael. "FTX's new gaming division faces an uphill battle in convincing gamers to buy NFTs". ZDNet. Retrieved 2022-11-28. 
  53. ↑ Leetham, Alice (9 February 2021). "FTX To Donate 1% Of All Net Fees To Charities | CoinJournal.net". CoinJournal. Retrieved 28 December 2022. 
  54. ↑ US, FTX. "FTX US Opens New Headquarters in Chicago and Launches Major Community Investment Initiative FTX US partners with Equity and Transformation to pilot largest private guaranteed income and banking inclusion program in country in Fall 2022". www.prnewswire.com. Retrieved 8 December 2022. 
  55. ↑ "Binance Backs Out of FTX Acquisition (Updated)". Gizmodo. 9 November 2022. Retrieved 27 November 2022. 
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  60. ↑ Scaggs, Alexandra (19 August 2022). "About that deposit insurance...". Financial Times. 
  61. ↑ Brett Harrison. "We really didn't mean to mislead anyone". Twitter. Archived from the original on August 23, 2022. Retrieved 29 November 2022. 
  62. ↑ Roth, Emma (20 August 2022). "FTX's money isn't insured, FDIC says". The Verge. 
  63. ↑ Sam Trabucco. "I guess that's about it". Twitter. Archived from the original on November 16, 2022. Retrieved 15 November 2022. 
  64. ↑ Ligon, Cheyenne (27 September 2022). "Crypto Exchange FTX Is Moving Its US Headquarters From Chicago to Miami". www.coindesk.com. Retrieved 8 December 2022. 
  65. ↑ Rooney, Kate. "FTX in talks to raise up to $1 billion at valuation of about $32 billion, in-line with prior round". CNBC. Retrieved 12 November 2022. 
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  67. ↑ Allison, Ian (2 November 2022). "Divisions in Sam Bankman-Fried's Crypto Empire Blur on His Trading Titan Alameda's Balance Sheet". www.coindesk.com. Retrieved 8 December 2022. 
  68. ↑ "The FTX Future Fund team has resigned". forum.effectivealtruism.org. Retrieved 29 November 2022. 
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