FTX

FTX

Cryptocurrency derivatives exchange for traders

Overview

FTX operates as a cryptocurrency derivatives exchange that serves both retail and institutional clients. It allows users to trade crypto-based futures and other leveraged products on a single trading platform, using margin and collateral to manage risk and aiming to reduce common market issues like clawbacks and ineffective liquidation systems. The platform earns revenue from transaction fees, margin trading, and related financial services. Compared with competitors, FTX focuses on reducing market inefficiencies and improving product design, while actively educating users and collaborating with ecosystem partners to grow the cryptocurrency space. The company's goal is to provide a reliable, accessible trading platform and to support the broader development of the crypto ecosystem.

Significant Headcount Growth

About FTX

Simplify's Rating
Why FTX is rated
D
Rated D+ on Competitive Edge
Rated D+ on Growth Potential
Rated D- on Differentiation

Industries

Fintech

Crypto & Web3

Financial Services

Company Size

11-50

Company Stage

Series C

Total Funding

$1.8B

Headquarters

Nassau, Bahamas

Founded

2019

Simplify Jobs

Simplify's Take

What believers are saying

  • FTX Recovery Trust distributed over $5 billion on May 30, 2025.
  • Dotcom customers received 72% and U.S. customers 54% payouts.
  • FTX sues NFT Star and Delysium to recover millions in tokens.

What critics are saying

  • SEC bans Caroline Ellison for 10 years from executive roles.
  • CFTC bars Nishad Singh from trading for five years permanently.
  • Binance countersuit forces FTX to spend billions on legal defense.

What makes FTX unique

  • FTX fixes clawbacks and liquidation flaws in derivatives trading.
  • FTX serves retail and institutional crypto traders equally.
  • FTX generates revenue via transaction fees and margin trading.

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Funding

Total Funding

$1.8B

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$400M
FTX

Benefits

18 Privilege Leaves and 9 Public Holidays Leaves Per Year

Flexible Working Hours

Friendly and Progressive Atmosphere

Competitive Salaries

Frequent Outings and Company Parties

Employee Referral Program

Growth & Insights and Company News

Headcount

6 month growth

41%

1 year growth

41%

2 year growth

41%
TokenPost
Feb 9th, 2026
Former FTX Executive Ryan Salame Appears to Seek Trump Pardon Through Pro-MAGA Social Media Campaign

Former FTX executive Ryan Salame, once a co-CEO of the collapsed crypto exchange, is drawing attention after launching a highly visible social media campaign that appears aimed at securing a presidential pardon from Donald Trump. Despite currently serving a 90-month federal prison sentence, Salame's X account has recently become active with a steady stream of politically charged posts closely aligned with Trump-era Republican priorities. Over the past several weeks, Salame's posts have praised conservative policies, criticized Democrats, and echoed Donald Trump's rhetoric on immigration enforcement, voter ID laws, and alleged election integrity issues. In one viral post, Salame claimed that if granted clemency, he would "spend the remainder of my sentence working as an ICE agent," a statement that quickly gained traction online and reinforced his alignment with Trump's hardline immigration stance. In other messages, he argued that voter ID laws are being intentionally misrepresented and suggested that funding IDs would eliminate what he described as "fake pretending" around voter suppression. He has also claimed he would personally pay for legal citizens to obtain voter identification if he were free. Salame is currently incarcerated at a medium-security federal facility after pleading guilty in 2023 to campaign finance violations and operating an unlicensed money-transmitting business connected to FTX. Federal inmates are prohibited from accessing social media directly, leading to widespread belief that his posts are being published through third parties acting on his behalf, likely using phone calls or written correspondence, a common practice among high-profile inmates. Several of Salame's recent posts directly attack federal prosecutors, alleging coercion in his plea deal and claiming the Department of Justice misled him regarding investigations involving his wife. This narrative closely mirrors Trump's long-standing criticism of the DOJ and claims of politically motivated prosecutions. Salame's messaging comes at a time when Trump has issued a series of high-profile pardons and commutations, including cases involving financial and crypto-related crimes. While Salame has not explicitly requested a pardon, the tone and consistency of his public statements strongly suggest he is positioning himself for potential clemency by aligning as closely as possible with Trump's political agenda.

Cryptopolitan
Dec 17th, 2025
Caroline Ellison transferred from federal prison to community confinement ahead of early release

Caroline Ellison transferred from federal prison to community confinement ahead of early release. * By Jai Hamid * Updated: December 17 2025 5:09 AM UTC In this post: * Caroline Ellison moved from federal prison to community confinement after serving about eleven months. * Records show her new projected release date is February 20, 2026. * She testified against Sam Bankman-Fried in the $11 billion fraud case. Former FTX executive Caroline Ellison was on October 16 moved out of the low-security Danbury Federal Correctional Institution in Connecticut, according to information from Business Insider. The transfer happened quietly and places Caroline closer to release than many expected when she reported to prison last year, though her release date remains February 20, 2026, which is about nine months earlier than the original end of her sentence. The Federal Bureau of Prisons explained on Tuesday that Caroline is now serving the rest of her time under less restrictive conditions. Spokesperson Randilee Giamusso, speaking for the Bureau of Prisons, reportedly said:- "That means the individual may be in home confinement or a residential reentry center.For privacy, safety, and security reasons, we do not discuss the conditions of confinement for any individual, including reasons for transfers or release plans, nor do we specify an individual's specific location while in community confinement." Caroline of course entered the Danbury facility in early November 2024 to begin serving a two-year sentence.The sentence stemmed from her role in a multibillion-dollar fraud case tied to the collapse of Sam "SBF" Bankman-Fried's crypto empire. Caroline had pleaded guilty to conspiring with SBF in an $11 billion scheme connected to FTX and Alameda Research. During the 2023 criminal trial of Sam, Caroline testified for the government, telling jurors that she and SBF used Alameda Research to deploy billions of dollars that were secretly taken from FTX customers. Caroline's legal team asked the court to avoid incarceration entirely. Kaplan rejected that request and said he would not offer a "literal get-out-of-jail-free card." Before sentencing, Caroline addressed the court and apologized, while visibly holding back tears. "On some level, my brain doesn't even comprehend all the people I harmed. That doesn't mean I don't try." Sam of course received a much harsher outcome, when he was infamously sentenced to 25 years in prison after a jury found him guilty on all seven counts of fraud and conspiracy. Right now, SBF is at a low-security federal prison in San Pedro, California, but he continues appealing both the conviction and the sentence. His lawyers argue he deserves a new trial because prosecutors unfairly previewed his testimony.

PR Newswire
May 30th, 2025
Ftx Commences Second Distribution Of More Than $5 Billion To Convenience And Non-Convenience Classes

Customers in Second Distributions Expected to Receive Funds within 1-3 Business DaysSubsequent Record and Payment Dates to be Announced in Due CourseWILMINGTON, Del., May 30, 2025 FTX Trading Ltd. (d/b/a. FTX.com) and the FTX Recovery Trust (collectively "FTX") today announced that FTX has commenced the distributions of recoveries to holders of allowed claims in FTX's Convenience and Non-Convenience Classes that have completed the pre-distribution requirements (the "Second Distribution"), consistent with FTX's Chapter 11 Plan of Reorganization (the "Plan"). Eligible creditors should expect to receive funds from their selected distribution service provider (a "Distribution Service Provider"), either Bitgo or Kraken, within 1 to 3 business days from May 30, 2025. Subsequent record and payment dates will be announced in due course.In the Second Distribution, in accordance with the waterfall priorities set forth in the Plan:Allowed Class 5A Dotcom Customer Entitlement Claims are receiving a 72% distribution;Allowed Class 5B U.S. Customer Entitlement Claims are receiving a 54% distribution;U.S

PR Newswire
May 15th, 2025
Ftx Recovery Trust To Distribute More Than $5 Billion To Creditors In Second Distribution On May 30, 2025

WILMINGTON, Del., May 15, 2025 /PRNewswire/ -- FTX Trading Ltd. (d/b/a. FTX.com) and the FTX Recovery Trust (collectively "FTX") today announced that, consistent with FTX's Chapter 11 Plan of Reorganization (the "Plan"), FTX will commence distributions to holders of allowed claims in the Plan's Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on May 30, 2025 (the "Second Distribution"). Eligible creditors should expect to receive funds from their selected distribution service provider (a "Distribution Service Provider"), either Bitgo or Kraken, within 1 to 3 business days from May 30, 2025. Subsequent record and payment dates will be announced in due course.In the Second Distribution, in accordance with the waterfall priorities set forth in the Plan:1Allowed Class 5A Dotcom Customer Entitlement Claims will receive a 72% distribution;Allowed Class 5B U.S. Customer Entitlement Claims will receive a 54% distribution;U.S

Airdrops.com Ltd.
May 13th, 2025
Backpack Exchange Begins Fund Withdrawals for Former FTX EU Users

Furthermore, anyone who registered with FTX before March 7, 2022, is not recognized as an FTX EU customer, according to Backpack.

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