Cryptocurrency exchange FTX stood on the brink of failure today after a bailout from larger rival Binance collapsed and the chances of other rescue funding looked slim.
Founder and chief executive Sam Bankman-Fried said he was exploring all options for his firm.
Here is a history of FTX since its foundation in 2019:
May 2019 - Former Wall Street trader Sam Bankman-Fried and ex-Google employee Gary Wang founded FTX, the owner and operator of FTX.COM cryptocurrency exchange.
August 2020 - FTX acquired mobile portfolio tracking application, Blockfolio for $150m.
July 2021 - A $900m funding round valued FTX at $18 billion.
September 2021 - FTX signed a sponsorship deal with Mercedes' Formula 1 team.
October 2021 - FTX raised capital at a valuation of $25 billion from investors including Singapore's Temasek and Tiger Global.
January 27 2022 - FTX's US arm said it was valued at $8 billion after raising $400m in its first funding round from investors including SoftBank and Temasek.
January 31 2022 - FTX raised $400m from investors including SoftBank at a valuation of $32 billion.
June 4 2022 - FTX signed a reportedly $135m sponsorship deal for naming rights of the Miami Heat's home court.
July 1 2022 - FTX signed a deal with an option to buy embattled crypto lender BlockFi for up to $240m.
July 22 2022 - FTX offered a partial bailout of bankrupt crypto lender Voyager Digital. Voyager called it a "low-ball bid".
July 29 2022 - FTX said it won full approval to operate its exchange and clearing house in Dubai.
August 19 2022 - A US bank regulator ordered FTX to halt "false and misleading" claims it had made about whether funds at the company are insured by the government.
September 9 2022 - FTX's venture capital fund said it would buy a 30% stake in SkyBridge Capital.
November 2 2022 - Crypto news website CoinDesk reported a leaked balance sheet that showed Alameda Research, Bankman-Fried's crypto trading firm, was heavily dependent on FTX's native token, FTT. Reuters was unable to verify the report.
November 6 2022 - Binance CEO Changpeng Zhao said his firm would liquidate its holdings of FTT due to unspecified "recent revelations".
November 7 2022 - Bankman-Fried said "FTX is fine. Assets are fine".
November 8 2022 - FTT collapses by 72% as clients swamp the exchange with withdrawal requests.
November 9 2022- Binance decided against pursuing a nonbinding agreement to bail out FTX.
November 10 2022 - FTX suspended on-boarding of new clients as well as withdrawals until further notice
Bankman-Fried told staff in a memo that he was seeking a capital raising and had held talks with Justin Sun, founder of the crypto token Tron
Reuters reported that Bankman-Fried is seeking to put together a rescue package of up to $9.4 billion for FTX
Securities Commission Of the Bahamas said it had frozen assets of FTX Digital Markets, a subsidiary of FTX
US Senate Agriculture Committee Chair Debbie Stabenow said the US Congress needs to pass legislation in the wake of the collapse of FTX.
November 11 2022 - The Mercedes Formula One team suspended a partnership agreement with troubled cryptocurrency exchange FTX ahead of the season's penultimate race in Brazil.
FTX said it will initiate bankruptcy proceedings in the US while its chief executive Sam Bankman-Fried resigned.
