Quant Zone (FTX)

Quant Zone was a feature of the FTX cryptocurrency exchange that let users create simple automated rules, such as placing an order when a price or indicator crossed a level, without writing code. It was presented as an entry point to algorithmic trading and was promoted with small rewards for users who took part, which made it popular with people trying the exchange. In practice it worked like the rule builders and trading bots offered by other platforms. The feature ended with FTX itself, which filed for bankruptcy in November 2022 after it emerged that customer deposits had been used by its affiliated trading firm; founder Sam Bankman-Fried was later convicted of fraud in a US court. Customers' losses led to a long bankruptcy process. The episode is often cited in debates about commingling of customer funds and proof of reserves.