RATE Group | How This Cryptocurrency Platform Grew From Nothing to Top 5 Exchange Worth $1 Billion in…
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How This Cryptocurrency Platform Grew From Nothing to Top 5 Exchange Worth $1 Billion in…

21 Feb How This Cryptocurrency Platform Grew From Nothing to Top 5 Exchange Worth $1 Billion in…

Posted at 14:18h in Cryptocurrency News by

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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 Cracks Cryptocurrency Exchange Market

In 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…

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