FTX Rolls Out Series of Efficiency Updates, but Market Seems Unenthusiastic

2 mins
10 October 2022, 12:00 GMT+0000
Updated by Geraint Price
10 October 2022, 12:00 GMT+0000
In Brief
  • FTX CEO Sam Bankman-Fried announced that the exchange would be undergoing improvements to its efficiency over the next month.
  • Tireless efforts from the development team will lead to a doubling of the exchanges throughput, the chief executive said.
  • The native token of the exchange slipped immediately following the announcement, contrasting with reactions to the Visa expansion plans last week.
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Cryptocurrency exchange FTX is launching a series of developments over the next month that will reportedly make it more efficient, the company’s CEO announced.

“Over the next month, we’ll be rolling out a bunch of improvements to FTX’s matching engine,” tweeted chief executive Sam Bankman-Fried.

“In fact we’ve already started.” Among the developments he listed were a new order matcher, lower latency API pathways, in addition to “a whole slew of other features.”

FTX V2 coming next month

While Bankman-Fried said that many of these developments had “been in the works for most of the year,” he said that many would be unveiled over the coming month, with a final release date of Nov. 21.

At this point, Bankman-Fried highlighted that “FTX: V2,” would be live. Until then, he said that users could expect the order throughput to double, resulting in a halving of the order latency.

Bankman-Fried requested the cooperation of API traders, with whom he said FTX would be previewing some of the developments. To conclude, the chief executive praised the tireless work of his development team, “turning sleepless nights into higher order throughput and lower API latency.”

The market reaction to the news, however, seemed to be rather unfavorable, with the platform’s native token (FTT) taking a hit immediately following the announcement. However, it seems to have recovered mildly in the hours since then.

Source: TradingView

FTX and Visa partnership saw price spike

The reaction stands in marked contrast to other recent news from FTX, namely its expanded partnership with Visa, which saw FTT spike amid a surge in volume with the announcement on Friday.

Following the rollout of Visa debit cards that enable customers to purchase goods and services with cryptocurrency in the United States earlier this year, the expansion will see this offer now extended to FTX customers in 40 countries, across Latin America, Europe, and Asia.


BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.