FTX.US is a separate entity from its troubled parent company FTX, which has been embroiled in liquidity issues, potential insolvency and mismanagement of customers' funds. As of publication, FTX says FTX.US customers' funds are safe, but the situation is ongoing. FTX and Binance are cryptocurrency exchanges, meaning they enable customers to trade digital currencies for other digital currencies or traditional money, and vice versa. The two exchanges process the majority of all crypto trades in the world, according to CoinMarketCap, an industry data tracker.
FTX Exchange fall from the top of the crypto industry started last week when reports emerged that the balance sheet of Alameda was loaded with billions of dollars worth of FTT, the exchange's crypto token, implying that both businesses were vulnerable to a decline in the token's value.
