What is FTX staking and how does it work?

By opting in and participating in staking your supported assets in your FTX account, you’ll be eligible to earn up to 8% APY on your assets. This is great news for crypto investors and users who have been looking for ways to earn more on their holdings.

What happened to FTX?

FTX’s bankruptcy advisors noted that the exchange’s liquidity gap is currently $8 billion. FTX chief restructuring officer John Ray III said that Sam Bankman-Fried received $1 billion in loans from FTX-related companies. Following FTX’s collapse, Bitcoin and altcoin prices crumbled under selling pressure from investors pulling out of risk assets.

What is FTX (FTX)?

Unlike Celsius and Voyager, two failed U.S.-based crypto firms that have billions of investor funds tied up in bankruptcy proceedings, FTX is an international company headquartered in the Bahamas and incorporated in Antigua and Barbuda .

How much is FTX worth?

A $400 million funding round in January 2022 valued FTX at $8 billion. In March 2022, tennis star Naomi Osaka became an FTX sports ambassador, joining NFL champion Tom Brady and NBA star Stephen Curry.