Crypto Exchange FTX US reported great growth during 2021 third quarter with an average daily trading volume of approximately $360 billion, a 512% jump from the second quarter. FTX US’ user count surged 52% quarter-over-quarter, increased its headcount by 30%, and held about 4.5% of the U.S. crypto spot market’s volume by September 30th, a 2% increase compared to the beginning of the quarter. The company has reached a total value of $25 billion. Related Reading | Solana, FTX, Lightspeed Ventures To Launch $100M Web3 Gaming Fund Brett Harrison, President of FTX US, commented during a Yahoo Finance interview: 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. Institutions Make 60% Of FTX US’s Trading Volume The growth shows a contrast with the Q3 report from crypto exchange giant Coinbase, which showed a 29.2% drop in their trading volume and a transacting user count decrease of 16%, from 8.8 million to 7.4 million quarter-over-quarter. The main difference between FTX US and Coinbase, Harrison explained, is that the latter sees more retail volume, while 60% of FTX US’s volume comes from institutions like hedge funds, high-frequency and proprietary tr...
