Here is the story of FTX since its founding in 2019:
May – Former Wall Street trader Sam Bankman-Fried and former Google employee Gary Wang found FTX, the owner and operator of cryptocurrency exchange FTX.COM.
July – The $ 900 million funding round values FTX at $ 18 billion.
September – FTX signs a sponsorship agreement with the Mercedes Formula 1 team.
October – FTX raises $ 25 billion valued capital from investors including Temasek and Tiger Global of Singapore.
January 27 – The US arm of FTX claims to be valued at $ 8 billion after raising $ 400 million in the first round from investors including SoftBank and Temasek.
January 31 – FTX raises $ 400 million from investors including SoftBank for a $ 32 billion valuation.
June 4 – FTX signs $ 135 million sponsorship deal for Miami Heat headquarters name rights.
July 1 – FTX signs a call option agreement with cryptocurrency lender BlockFi for up to $ 240 million.
July 22 – FTX proposes a partial bailout of bankrupt cryptocurrency creditor Voyager Digital. Voyager called it a “low-priced offer”.
August 19 – A US banking regulator ordered FTX to put an end to “false and misleading” claims that the company’s funds were insured by the government.
November 2 – Cryptocurrency news website CoinDesk reports a leaked balance sheet showing that Alameda Research, Bankman-Fried’s cryptocurrency firm, was heavily dependent on FTX’s native token, FTT. Reuters was unable to verify this report.
November 6 – Binance CEO Changpeng Zhao says his company will liquidate its FTT holdings due to unspecified “recent disclosures”.
November 7 – Bankman-Fried said, “FTX is doing well. Assets are doing well.”
November 8 – Binance said it is planning a transaction to acquire FTX.
November 9 – Binance has decided not to pursue a non-binding deal to bail out FTX.
November 10 – FTX has suspended onboarding and withdrawing new customers until further notice.
November 10 – Bankman-Fried told staff in a statement that it was trying to raise capital and had discussions with Justin Sun, founder of the Tron crypto token.
November 10 – Reuters reports Bankman-Fried is looking to put together a bailout of up to $ 9.4 billion for FTX.
November 11 – FTX initiates the Chapter 11 voluntary procedure in the US, along with its US unit, cryptocurrency trading firm Alameda Research and nearly 130 other affiliates. Bankman-Fried resigns as CEO.
November 12 – Reuters reports that at least $ 1 billion of client funds have disappeared from FTX.
November 12 – FTX claimed to have detected unauthorized transactions. Blockchain analytics firms have estimated cash outflows between $ 473 million and $ 659 million under “suspicious circumstances”.
November 13 – The Bahamas Securities Supervisory Authority has launched an investigation into the collapse of FTX.
Here is a list of FTX investors since 2019, according to private markets data provider, PitchBook.
2019 Tiger Global Management, Insight Partners, SoftBank
Inves Investment Advisors, Temasek, Telstra Ventures,
Venture Growth Teachers, Steadview Capital Management,
Redline DAO, Paradigm, New Enterprise Associates,
Lightspeed Ventures, 500 Global, Binance Labs,
Consensus Lab, FBG Capital, Galois Capital, Greylock
Capital Management, Lemniscap, Race Capital, IVP, HOF
2020 Bitscale Capital, BR Capital, Evangelion Capital,
Inves Exnetwork Capital, Genblock Capital, Insignius
Capital of Tors, Capital of Pantera
2021 BlackRock, Tom Brady, Gisele Bundchen, Samsung NEXT
Inves Ventures, Sequoia Capital, Coinbase Ventures, Base10
tors Partners, Astronaut Capital, AGE Crypto, Vetamer
Capital, Senator Investment Group, Sea Capital,
Paradigm, Meritech Capital Partners, ICONIQ Growth,
Third Point Ventures, Thoma Bravo, Kevin O’Leary,
Willoughby Capital, digital currency group, third
Point, Tribe Capital, Bond Capital, Standard Investments, Circle
Standard Investments, Circle, Ribbit Capital, Multicoin Capital, Mayfield, 6ix.
Capital, Mayfield, 6th Event, Abstract Ventures,
Alan Howard, Altimeter Capital Management, Bond,
Schoeneck & King, DHVC, English Israeli, Mark VC
2022 Temasek, SoftBank Vision Fund 2, Ontario Teachers
Inves Pension Plan, K5 Global, MiH Ventures, Mint Ventures,
tors NKB Ventures, Signum Capital, Alchemy Ventures, Lux
Capital, Fenrir, Claritas Capital, Hard Yaka, Early
Capital Group, Chapter One Ventures, One Block
Capital, Chainfund Capital, A’Z Angels, Allied
Investor group, ArkStream Capital