FTX

2020 Election Markets

FTX recently launched 2020 presidential election markets; TRUMP, for instance, is a future that expires to 1 if Donald Trump wins the 2020 presidential general election, and 0 otherwise. How

2019: The Year Of Derivatives

No one can know for sure what’s going to be hot in crypto next year. But if you had to guess, a pretty good place to look is whatever

Forward

This probably won’t shock anyone, but the week leading up to the listing of FTT was the busiest of my life. Every part of our operation was stretched more

Developers Who Understand Trading

FTX rolled out its first spot market this week, a standard BTC/USD orderbook. On the right hand side of FTX’s futures markets you’ll find an informational box

Volume Monitor

FTX Global Volume Monitor

Today we’re releasing our investigation into cryptocurrency volume on exchanges around the world. To see our live-updating results, visit. CoinMarketCap has taken steps to identify fake volume, but there

Margin

Margin vs Futures

Let’s say you own 100 BTC and you want to hedge them. You have two options: short sell 100 BTC/USD on an exchange with margin trading, or sell

Liquidation Engine

FTX Liquidation Process Flowchart

Normal TradingSay some account A deposits $1m of collateral to buy $5m of BTC futures. They are currently 5x leveraged, and a 20% BTC move away from bankruptcy. They can

Liquidation Engine

Our Liquidation Engine — how we significantly reduced the likelihood of clawbacks from ever occurring

You can see the specs here. You can also see a flowchart of the liquidation process here. It’s first worth making explicit: the thing that causes socialized losses, and