Within a short period, the FTX crypto exchange has grown to become a leading crypto exchange. The exchange recently celebrated its two-year anniversary amid a growing track record.
FTX is at the forefront of offering crypto investors a wide range of services with different unique offerings, including Pre-IPO contracts, staking, volatility contracts and many more. These wide-ranging services provide different traders with a slew of tools through which they can interact with the crypto markets.
According to their CEO, Sam Bankman-Fried, the company plans to better their customers’ trading experience. However, FTX has risen to the occasion and is meeting the increasing demands of institutional traders by introducing innovative products. This is a milestone in the history of the company, says the CEO.
FTX Becomes Fourth-Largest Exchange Following Record Trading Volume
In April, the company’s trading volume was more than $400 billion, which is equivalent to about $14 billion per day. The firm is currently ranked as number four in terms of volume and the fastest growing exchange based on their top quality and innovative products and market value.
Furthermore, the firm currently has about a million registered users comprising traders with different experience levels. Last month, the open interest was also north of $10 billion, according to the report. This indicates that the exchange has seen a 25% year-on-year (YOY) growth compared to April 2020.
Beyond the achievements, the firm created a foundation in February 2021 as part of its initiative to “create a positive impact on the world.” FTX announced that it would donate 1% of its fee revenue to the foundation.
Since then, the firm has been involved in several projects, donating about $730,000 to several organizations like GiveDirectly. The firm has also promised to donate more than $7.5 million to effective charities.