FTX

FTX was a cryptocurrency exchange platform where users could buy, sell, and trade digital currencies like Bitcoin and Ethereum. Founded in 2017, it grew rapidly by offering advanced trading features and derivatives. However, in 2022, it faced a crisis when liquidity problems and mismanagement were exposed, leading to its bankruptcy. This resulted in significant financial losses for users and investors. Essentially, FTX was a major player in digital currency trading that encountered a dramatic failure due to operational and financial issues.