FTX

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About FTX:

FTX is short for “Futures Exchange”.
FTX is one of the biggest exchanges where trading those digital assets took place, and was touted by regulators and market watchers as one of the most transparent crypto operations.
A crypto exchange is in the business of helping customers buy and sell cryptocurrencies.

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Many cryptocurrencies are decentralized networks based on blockchain technology – a distributed ledger enforced by a disparate network of computers.
A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people.
It allows transactions to have public “witnesses”.
Any changes or additions made to the ledger are reflected and copied to all participants in a matter of seconds or minutes.
A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

Source : Indian Express