FTX is a digital asset trading platform offering customers the ability to trade many different assets in various ways, such as futures trading. FTX has its own asset named FTX Token (FTT), which trades on both its own platforms and other centralized exchanges.
About the FTX exchange
CEO Sam Bankman-Fried co-founded FTX along with Gary Wang, and the exchange began operations in 2019. How does FTX work? FTX is a fairly straightforward crypto project, as is its associated digital asset. It offers numerous ways to trade financial assets, some more complicated than others.
FTX is an online digital asset exchange through which customers can trade. The FTX exchange offers spot trading for a copious number of crypto assets. Additionally, the FTX exchange also provides other types of trading, such as tokenized stocks and Bitcoin (BTC) options.
Given the regulatory requirements in the United States, FTX has two separate platforms for U.S. users. The first is FTX US, which is distinct from the main FTX platform and has fewer features and offerings. There is a separate U.S.-focused platform for derivatives, FTX US Derivatives. The FTT asset is not tradable on FTX US.
The FTX crypto asset
What is FTX Token? FTX Token — also known by its ticker symbol, FTT — is the FTX exchange’s native asset. What does FTX Token do? FTT has multiple uses on the FTX exchange, such as decreasing exchange fees for customers who hold the asset on the trading platform.
FTX buys back a certain amount of FTT, representing a percentage of exchange fees and other gains, and burns it each week. FTT is an ERC-20 token but also exists in wrapped form on the Solana blockchain and as a BEP-2 token on BNB Beacon Chain. For FTX Token’s price today, see the FTT to USD live price at the top of the page. The FTT price chart above shows historical FTT price action.
