coincodex.com
Key highlights:
- FTX.US increased its user count by 52% in Q3 2021
- The exchange is also expanding its headcount, and is building new permanent office space in Miami
- FTX.US recently acquired regulated cryptocurrency futures platform LedgerX
FTX.US records strong third quarter
The FTX.US cryptocurrency exchange has announced its trading results for Q3 2021, in which their platform saw an average of $360 million in daily trading volume. Even though Q3 was a slower quarter for the cryptocurrency sector, FTX.US says that its user count increased by 52% in the quarter.
FTX.US also noted that it’s currently the most liquid United States-based cryptocurrency exchange according to market tracker Cryptowatch.
According to a Bloomberg report, FTX.US is expanding its presence in Miami, which is establishing itself as an important hub for the cryptocurrency industry. Per the report, FTX.US is planning to have between 16 and 18 employees in a new permanent office space in Miami’s financial district. During Q3, the exchange already grew its headcount by 30%.
FTX.US is the United States-based offshoot of FTX, a cryptocurrency exchange which launched its operations in 2019 and is not available to United States traders. Compared to FTX, which lists more exotic derivatives trading products and a wide range of cryptocurrencies, FTX.US launched with a more basic offering to comply with stringent cryptocurrency regulations in the United States.
However, this doesn’t mean that FTX.US isn’t working on launching new products. In October, FTX.US finalized the acquisition of regulated cryptocurrency futures exchange LedgerX. After the acquisition, LedgerX was rebranded to FTX US Derivatives. FTX.US is also getting involved with NFTs, and has launched a marketplace for NFTs issued on the Solana blockchain.
Brett Harrison, the president of FTX US, commented on the exchange’s growth, saying that FTX.US is actively looking to expand into new sectors:
“The trust and support of our user base has allowed FTX US to become the fastest growing and most in-demand crypto exchange in the US, but we have barely scratched the surface. We will continue to improve our existing offerings and rapidly expand into new areas, including derivatives, NFTs, and payment services.”