FTX US Daily Trading Volume Soared 512% in Q3

FTX US’ average daily trading volume skyrocketed 512% in its third quarter versus the second quarter and hit a peak of $807 million during a 24-hour period on Sept. 7, the crypto derivatives exchange said Thursday.

• FTX US recorded an average daily volume of $360 million for the quarter, the company said in a press release.
• The company noted its platform user count rose 52% in the quarter versus the second quarter.
• The exchange added that it held about 4.5% of the U.S. crypto spot market volume at the end of the third quarter, up from about 2% at beginning the quarter.
• FTX US said that the closing of its acquisition of LedgerX would allow the company to “provide licensed crypto futures and options to our retail and institutional customers, and has placed us in the unique position to reshape the U.S. derivatives market.”
• FTX US also plans to be in “constant communication” with regulatory agencies and is “hoping to play a central role in defining crypto regulatory policy in the U.S.,” FTX US President Brett Harrison said in the statement.