Social Media Site Stocktwits Taps FTX to Launch Crypto Trading Service

The move marks Stocktwits' first foray into offering trading on its platform.

AccessTimeIconFeb 3, 2022 at 4:31 p.m. UTC
Updated May 11, 2023 at 4:08 p.m. UTC

Stocktwits is the latest online financial services firm to add crypto trading in a bid to court users looking to branch out from traditional investments.

  • Crypto exchange FTX US is providing the infrastructure for the trading, with fees being the same as on the FTX platform, Stocktwits confirmed to CoinDesk.
  • Founded in 2008, New York-based Stocktwits has historically focused on U.S. equities through its dedicated channels with collated social media discussions using specific hashtags. Crypto has lately become a more sizable part of the discussions on the site.
  • The platform follows the likes of Robinhood, PayPal and others in bringing crypto into the fintech fold. PayPal enlisted blockchain infrastructure firm Paxos in 2020 for a service that was seen at the time as a key moment in the mainstreaming of crypto assets.
  • Stocktwits said it has more than 6 million registered users and reaches over 5 million users monthly.
  • In December, the company raised $30 million in a Series B funding round led by FTX CEO Sam Bankman-Fried's Alameda Research Ventures. Stocktwits CEO Rishi Khanna told CoinDesk at the time that crypto products were on the roadmap.
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    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


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