Launch and early push
Fairdesk started in 2021 as a Singapore-based centralized exchange built by former Binance and Morgan Stanley executives. It promised ultra-high throughput with a custom engine and aimed to deliver fairness and reliability for pro traders. Derivatives came first, followed by spot markets across BTC, ETH, LTC, TRX, BNB and more by mid-2022. Fees were low at 0.1% with VIP discounts.
Expansion and architecture
Fairdesk secured MSB registrations in the U.S. and Canada and a VASP license in Lithuania. It expanded into Turkey, South Korea and formed partnerships in Russia. Its engine was touted to process 450,000 orders per second with millisecond execution. Copy trading features were introduced to support less experienced traders.
Fade into silence
By late 2024, Fairdesk announced closure. Trading ceased in mid-October, and withdrawals were allowed until November 30 for users to recover funds. Reasons cited included regulatory shifts and market conditions. Today, the platform is defunct, with zero volume and no active services.
Strengths & weaknesses at a glance
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Final word
Fairdesk entered with ambition: institutional-grade trading for crypto markets. It had pedigree, speed and compliance. But shifting regulations and structural fragility led to its shutdown in 2024. The story of Fairdesk serves as a reminder that even well-built exchanges need adaptability and resilience to survive.