FTX CEO says crypto exchange ready to spend billions on acquisitions – Bitcoin news

FTX CEO says crypto exchange ready to spend billions on acquisitions – Bitcoin news

Billionaire and co-founder of FTX Sam Bankman-Fried said that the leading crypto asset exchange aims to make numerous acquisitions and could spend up to $ 2 billion on such efforts. In a recent interview, the executive director of FTX pointed out that part of the funds raised by the company was “explicitly viewed from the angle of a potential acquisition”.

FTX CEO Sam Bankman-Fried says funds raised could be used for acquisitions

Sam Bankman-Fried spoke in an interview with Bloomberg’s Allyson Versprille and Yueqi Yang on Friday and explained that FTX thinks about expansions and acquisitions. Crypto exchange FTX and its parent company West Realm Shire Services Inc. they raised over $ 2 billion from investors.

FTX data on the volume of trade shows that it is the second largest platform for cryptocurrency trading below Binance in terms of global trading volume. Over the past 24 hours, FTX has recorded $ 1.56 billion in cryptocurrency trading with its 338 coins and 524 trading pairs.

FTX CEO says crypto exchange ready to spend billions on acquisitions – Bitcoin news

During interviews with Bloomberg’s Versprille and Yang, Bankman-Fried explained that the company’s war fund could be used for a number of acquisitions.

“FTX is a profitable company,” explained the executive director of FTX. “You can look at the amount we’ve raised in the last year or two – it’s billions of dollars. It may give a sense of where we are in terms of cash that is explicitly viewed from the perspective of a potential acquisition. ”

The co-founder of FTX further described that the company wants to be able to offer customers more products to stay on the platform for all its needs, Bankman-Fried noted. As for acquisitions, Bankman-Fried said the company holds focused oversight. The FTX Executive added:

It is always something we will be open to and keep our ears on the ground.

Bankman-Fried’s comments follow the FTX US launch commission-free stock trading platform. Friday’s discussion also follows Bankman-Fried’s statements regarding bitcoin (BTC) and the ability of the network to be a payment network.

Bankman-Fried was also named one of the “100 Most Influential People of 2022” by TIME, and time.com author Andrew R. Chow introduced FTX CEO in profile editorial.

Labels in this story

$ 2 billion, 100 most influential people, Allyson Versprille, Andrew R. Chow, Bankman-Fried, Bitcoin, Bitcoin (BTC), crypto means, cryptocurrency, ftx, FTX Arena, FTX CEO, FTX co-founder, FTX Crypto, FTX Exchange, FTX.US, interview, Sam Bankman-Fried, sbf, stock trading platform, Time magazine, war chest funds, Yueqi Yang

What do you think about the CEO of FTX explaining his plans to use the funds to acquire companies and expand? Tell us what you think about this topic in the comments section below.

FTX CEO says crypto exchange ready to spend billions on acquisitions – Bitcoin news

Jamie Redman

Jamie Redman is a news anchor on Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols that appear today.

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