Curious about how FTX compared with Binance? This side-by-side look helps newcomers test the waters and gives seasoned crypto traders a quick way to evaluate feature sets across two of the most talked-about platforms. Overall, Binance is the better choice today because it remains operational with deep liquidity, broad product coverage, and ongoing platform support, while FTX is no longer available for trading.
With countless crypto marketplaces available, the natural question is, which exchange delivers the most value? To explore that, we compare Binance and FTX Exchange, highlighting strengths, trade-offs, and who each platform suits best.
FTX Exchange, including both its international arm and , is no longer operating.
After bankruptcy filings, the platform suffered a breach in which well over six hundred million dollars in digital assets disappeared. Widespread speculation points to a former FTX insider. For a full timeline and recent developments, consult dedicated coverage.
Is FTX the Same as Binance?
No—FTX and Binance were separate entities with different ownership, leadership, and operations. FTX Exchange was launched in 2019 and built around Alameda Research’s trading roots, while Binance began operations in 2017 under Chengpeng Zhao (CZ) and grew into the largest global trading venue by user and volume.
Most importantly for users today, Binance continues to operate, while FTX does not.
What Led to FTX’s Collapse?
FTX’s collapse stemmed from a rapid loss of market confidence that turned into a liquidity crisis. As concerns spread about the exchange’s financial position and risk controls, users rushed to withdraw funds, creating a classic run scenario that the platform could not meet.
Reports and subsequent proceedings pointed to severe mismanagement and allegations of improper handling of customer assets. The combination of a sudden withdrawal surge, apparent shortfalls, and a breakdown in governance accelerated the move into bankruptcy.
Why Did Binance Not Buy FTX?
In 2022, Binance publicly signaled initial intent to explore acquiring FTX, but it did not proceed. Binance cited issues that emerged during the review process, including concerns tied to financial condition and risk exposure, as well as the practical difficulty of stabilizing the business under intense scrutiny.
Once Binance stepped away, the already fast-moving liquidity crisis worsened, removing a potential backstop and contributing to FTX’s rapid collapse into bankruptcy.
Why Is FTX Suing Binance?
FTX’s bankruptcy estate has pursued legal action against Binance seeking to recover funds it alleges were improperly transferred to Binance as part of earlier business dealings between the companies.
The core allegation is that certain transfers should be clawed back for the benefit of creditors as part of the bankruptcy process. As with many bankruptcy-related lawsuits, the status and outcome depend on ongoing court proceedings and potential settlement or judgment.
Can I Still Get Money From FTX?
FTX customer withdrawals remain unavailable through the exchange itself because the platform is not operating and is undergoing bankruptcy proceedings.
To pursue recovery, customers generally must go through the bankruptcy claims process (for example, by filing a claim if required and following the court-approved procedures). Any recovery depends on the confirmed bankruptcy plan, asset recoveries, and the priority of claims, and timelines can be lengthy and uncertain.
What Is FTX Exchange?
Launched in 2019, FTX Exchange was created by Alameda Research, a quantitative firm known for algorithmic crypto strategies. At its peak, it topped volume leaderboards and accounted for roughly three-tenths of major-exchange turnover.
Its origins in professional trading supported the promise of an exchange designed by market participants for active participants.
FTX prioritized derivatives and prediction markets, rolling out futures, options, and volatility-focused instruments, alongside competitive fees and tiered discounts.
Backed by sizable venture capital, FTX expanded rapidly, overtaking platforms such as KuCoin and Kraken in segments and even chipping away at Coinbase’s U.S. market share.
See the FTX Exchange Guide for a complete walkthrough and review.
What Is Binance Exchange?
Binance began operations in 2017 under Chengpeng Zhao (CZ), formerly OKCoin’s CTO, bringing years of high-frequency trading software experience.
By a substantial margin, Binance became the most widely used crypto exchange, handling upward of twenty-five billion dollars in organic daily volume and serving millions globally.
Binance’s emphasis is on spot trading with one of the largest selections of listed assets, plus advanced tools such as margin, options, and a lending marketplace.
For years, Binance has set the pace in the trading venue landscape—praised for strategic execution and for initiatives that push the broader crypto ecosystem forward.
Binance has also engaged closely with global regulators to shape policy. In 2022, approvals in Dubai and Bahrain were granted to both Binance and FTX.
Such authorizations enable operations aligned with international norms and expectations from bodies like the Financial Action Task Force.
Binance and FTX: Overview
Below, we compare the two exchanges on key criteria to help you decide which aligns with your needs.
| Fees | Historically competitive maker/taker rates with tiered discounts | Competitive tiers; discounts available (for example, paying with BNB) |
| Security | 2FA, cold storage, monitoring; later suffered a post-bankruptcy breach | 2FA, cold storage, monitoring; long operating history and incident response |
| Products | Derivatives and prediction markets; stock/ETF trading via its U.S. platform | Broad spot markets plus margin, options, loans, and Earn-style products |
| Supported Assets | Smaller than Binance, but still hundreds of tradable assets (historically) | One of the largest asset selections in the market |
Products
While both platforms overlap in core capabilities, their emphasis diverged: Binance leaned into spot markets with broader asset coverage, whereas FTX leaned into derivatives and prediction contracts, appealing to advanced users seeking higher risk–reward instruments.
Each platform offered exclusive services. Binance rolled out Crypto Loans, a P2P marketplace, and Binance Earn. FTX offered volatility and prediction markets, plus stock and ETF trading on its U.S. platform—an uncommon addition among domestic crypto venues.
- Binance: Crypto Loans
- Binance: P2P Marketplace
- Binance: Binance Earn
- FTX: Volatility Markets
- FTX: Prediction Markets
- FTX: Stock and ETF Trading (FTX US)
FTX’s crypto card was limited to U.S. users via FTX US, while Binance’s debit card gained wide traction internationally. In short, FTX specialized in pro-grade trading instruments; Binance offered more avenues for passive income through Earn.
Both exchanges provided iOS and Android apps so traders could manage positions anywhere.
Supported Cryptocurrencies
Binance lists more assets than virtually any competitor—around one thousand three hundred tokens—along with its native Binance Coin (BNB).
Learn more about Binance Coin (BNB).
FTX still offered a substantial roster, though smaller than Binance’s, with more than four hundred sixty tradable assets and its own FTX Token (FTT).
| Binance | Around 1,300 | BNB |
| FTX (historical) | More than 460 | FTT |
Both platforms regularly expanded listings, including newly launched tokens.
Fees
Entry-level spot fees were already low on both venues and dropped further with higher volumes. For Tier 1 accounts, FTX set maker fees at about two-hundredths of a percent and taker fees near seven-hundredths.
For active traders, small differences in maker/taker rates can add up quickly, so tiers and discounts matter as much as the headline fee.
Binance’s standard maker and taker charges were about one-tenth of a percent. Paying with BNB reduced that to roughly seventy-five thousandths, still above FTX’s baseline.
| FTX (historical) | ~0.02% | ~0.07% | Volume-based tiers and discounts |
| Binance | ~0.10% | ~0.10% | Reduced fees when paying with BNB; volume-based tiers |
Beyond headline spot fees, both venues used tiered schedules that rewarded higher monthly volume, and both had separate fee structures for other transaction types (such as derivatives). Users also needed to account for non-trading costs and frictions, including spreads, funding-related charges on leveraged products, and any deposit/withdrawal fees that may apply depending on the asset and network.
On pure trading cost, FTX generally came out ahead.
Security
Security should be a top priority, and both Binance and FTX were regarded as among the industry’s safer exchanges.
When comparing exchange security, it’s the consistency of controls—authentication, cold storage, monitoring, and incident response—that tends to separate stronger venues from weaker ones.
They implemented two-factor authentication, kept the bulk of funds off the public internet, and set aside portions of fees to backstop losses.
- Two-factor authentication
- Cold storage of funds
- Insurance/reserve funds
Continuous monitoring and analytics were standard, and dedicated reserves existed to cover user losses in the event of a breach.
FTX reported no successful external hacks prior to its collapse, while Binance experienced incidents yet adhered to strict security practices, with most assets kept in cold storage. FTX also used Chainalysis for independent transaction checks, a modest advantage.
From an ease-of-use standpoint, Binance generally offers a broader set of security controls and account settings, which can be powerful but also more complex for beginners to navigate. Historically, FTX’s interface and product layout were often described as more streamlined—though that distinction is less relevant now that the platform is no longer operating.
Because Binance has operated longer and at larger scale, it’s naturally a bigger target. Even so, Binance has planned defensively and continued to perform strongly through down markets.
Best Alternatives to FTX
If you’re looking for an alternative now that FTX is gone, consider established exchanges and platforms with strong liquidity, clear compliance practices in your region, and a track record of operational uptime. Common options traders compare include Binance, Coinbase, Kraken, Gemini, and Bitstamp.
When choosing an alternative, focus on practical criteria such as supported assets, fee tiers, fiat on/off-ramps, security controls (2FA, withdrawal protections, device management), and whether the venue offers the specific products you need (spot only vs. margin/derivatives).
Conclusion
Both exchanges delivered comparable core functionality, but they diverged in focus: Binance prioritized spot trading breadth, while FTX centered on derivatives and prediction markets.
Binance is the better fit if you want the widest token selection—including new DeFi, NFT, and metaverse plays—or if you value passive-yield options through Earn.
Veteran day traders or users adept with volatility products gravitated to FTX for its comprehensive derivatives lineup and notably low fees.
Disclaimer: Trading cryptocurrencies carries substantial risk and can lead to losses of principal. Prices are highly volatile and may swing dramatically over short periods. Not all investors should trade crypto. Keeping assets on centralized platforms introduces counterparty and security risks, including potential hacks or business failures. Seek independent professional advice before trading, and carefully evaluate an exchange’s security controls when choosing where to buy, sell, or store your tokens.
