FTX Trading Ltd., commonly known as FTX (short for "Futures Exchange"), is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang and collapsed in 2022. At its peak in July 2021, the company had over one million users and was the third-largest cryptocurrency exchange by volume. Since November 11, 2022, FTX has been in Chapter 11 bankruptcy proceedings.