Here is the history of FTX since its founding in 2019:
May – Former Wall Street trader Sam Bankman-Fried and ex-Google employee Gary Wang found FTX, owner and operator of cryptocurrency exchange FTX.COM.
July – $900 million in funding values FTX at $18 billion.
September – FTX signs a sponsorship contract with the Mercedes Formula 1 team.
October – FTX raises capital at a $25 billion valuation from investors including Singapore’s Temasek and Tiger Global.
January 27 – The US arm of FTX says it is valued at $8 billion after raising $400 million in a first round from investors including SoftBank and Temasek.
January 31 – FTX raises $400 million from investors including SoftBank at a $32 billion valuation.
June 4 – FTX signs a $135 million sponsorship deal for naming rights to the Miami Heat’s home turf.
July 1 – FTX signs a call option agreement with cryptocurrency lender BlockFi for up to $240 million.
July 22 – FTX proposes partial bailout of bankrupt cryptocurrency creditor Voyager Digital. Voyager called it a “bargain bargain.”
August 19 – A US banking regulator ordered FTX to end “false and misleading” claims it had made that the company’s funds were guaranteed 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 revelations”.
November 7 – Bankman-Fried said “FTX is doing well. Assets are doing well.”
November 8 – Binance said it is planning a transaction to buy FTX.
November 9 – Binance decided not to pursue a non-binding agreement to save FTX.
November 10 – FTX has suspended new customer logins and withdrawals until further notice.
November 10 – Bankman-Fried told staff in a memo that he was looking to raise capital and had discussions with Justin Sun, the founder of the crypto-token Tron.
November 10 – Reuters reports that Bankman-Fried is looking to put together a bailout of up to $9.4 billion for FTX.
November 11 – FTX begins voluntary Chapter 11 proceedings in the United States, along with its US unit, crypto trading firm Alameda Research, and nearly 130 other affiliates. Bankman-Fried steps down as CEO.
November 12 – Reuters reports that at least $1 billion in client funds have disappeared from FTX.
November 12 – FTX said it detected unauthorized transactions. Blockchain analytics firms estimated the outflows between $473 million and $659 million in “suspicious circumstances.”
November 13 – The Bahamian Securities Regulator has launched an investigation into the FTX collapse.
Here is a list of FTX investors as of 2019, according to private markets data provider PitchBook.
2019 Tiger Global Management, Insight Partners, SoftBank
Inves Investment Advisors, Temasek, Telstra Ventures,
Growing Teacher Entrepreneurship, 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
Tors Capital, Pantera Capital
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,
Paradigma, Meritech Capital Partners, ICONIQ Growth,
Third Point Ventures, Thoma Bravo, Kevin O’Leary,
Willoughby Capital, Digital Currency Group, third
Point, Share capital, Bond capital, Standard investments, Circle
Standard Investments, Circle, Ribbit Capital, Multicoin Capital, Mayfield, 6ixth.
Capital, Mayfield, Event 6, Abstract Entrepreneurship,
Alan Howard, Altimeter Capital Management, Bond,
Schoeneck & King, DHVC, Israel Englander, 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 enterprises, a block
Capital, Chainfund Capital, A’Z Angels, Allies
Investor Group, ArkStream Capital