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1) FTX has grown from nonexistent to one of the industry leaders in the last year. We've put in a TON of work to get there, from listings to customer base to products to technology. Now seems like a reasonable time to give a series of updates about the business.

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2) Over the last year and a half there have been a bunch of focused build-outs. E.g. UX. Things like--if you want to isolate margin, you have to switch subaccounts, but that took 3 clicks. So we put a bar on trading pages to make it 1 click.

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3) This semester we hired a dedicated mobile developer and rolled out totally revamped apps. They're not perfect, but they're way better than they once were, and than many others in the space.

Cryptocurrency Derivatives Exchange

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4) We've also worked on our global speed profile, massively increasing access in some large markets. There are some cool behind the scenes stories to share some day -- including a week of frustration that all came down to the resolution of the screenshot of our new mobile app.

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5) We've also grown a ton. Over the first 9 months we had massive volume growth, up to $1b/day. Over the _last_ nine months our userbase has doubled and retail following quadrupled, even as industry volumes declined. We're extremely grateful for those who have joined us!

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6) FTX.us launched this year with a leading technical product, and we're gearing up for a massive push over the rest of 2020. We've recently hired

, the ex head of crypto at Robinhood, as our COO; and have really exciting things in the works.

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7) We've also begun scaling things up behind the scenes more and more--from

to the upcoming FTX US push to some really exciting partnerships. We've begun investing more, too. You've probably seen some posts about it, but our venture arms have been quietly active.

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8) None of this has come without a ton of challenges. We've been able to fight through them, but they'll keep coming. We're rolling out a ton of targeted upgrades to our capacity, but over the next couple months we're also going to be completely rewriting our databases.

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9) This should allow us to massively scale with our userbase. It's a good problem to have, and overall FTX has had fewer interruptions than many exchanges, but any is more than ideal, and there's more we can and will do behind the scenes to ramp up. Bear with us while we do.

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10) Finally, we're happy to announce that for the rest of 2020 FTX will completely remove maker fees. It will now be free to provide on all FTX futures and spot markets; and market makers can even earn a rebate!

2:59 PM · Aug 20, 2020Twitter Web App

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11) Zero maker fees will be going live in the next day. A huge thanks to everyone who's been with us through thick and thin, and to everyone who's joining us now. Cheers to the year ahead!

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12) P.s.--we're really excited with how the SRM IEO went; expect more coming!

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ᑕᑭT. ᗷᑌᒪᗩ

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omg u da boss man sam for real

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guess he listened to you

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🤣 nice! Now it may be worth looking into FTX. But how about reducing spreads and give some rebates for limit orders? Then you could start massive migration of market makers from the failing

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@Ballzy_trading

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This is amazing! Thank you

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hurray! thank you

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learn from a true capitalist

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That's a very good step. Thank you

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Sunil Kshirsagar

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In favour of Customer. FTX always do for customers

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