Cryptocurrency derivatives exchange, FTX, launched in May 2019, now ranks as a top 5 exchange by adjusted volume. Moreover, such has been their rise, they now seek to expand operations with a $15 million equity round. This puts a $1 billion valuation on the company.FTX is now top 5 exchanges globally! pic.twitter.com/zzaospKH4u— Brian TK Lee (@leetinka741) February 21, 2020FTX Cracks Cryptocurrency Exchange MarketIn nine short months, FTX has managed to make a huge splash in the world of cryptocurrency exchanges. Yesterday, the adjusted trading volume reached an all-time high for the platform, at around $1.3 billion.FTX provides a futures trading exchange for digital assets. Their platform features an easy-to-use interface offering futures trading, leveraged tokens, as well as an over-the-counter (OTC) portal.Much of FTX’s rise through the ranks can be attributed to trading firm Alameda Research, who founded FTX in the spring of last year. Alameda Research trades up to $1.5 billion in cryptocurrency each day, and are responsible for managing $100 million in digital assets.
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