The FTX cryptocurrency exchange is aimed at acquisitions by financial institution giants.

The 29-year-old FTX Digital Currency Exchange CEO said some of the the most prestigious financial institutions in the world can become acquisition objectives for young cryptocurrency companies.

FTX Boss Crypto Ambitions

Who would have thought that one day in 2009 Bitcoin invented by a small group of CypherPpunks Satoshi Nakamoto make central banks think all over the world? Banks and other traditional financial institutions have long laughed at Bitcoin and cryptocurrency players and then belittled them when they became too competitive.

If the first decade of the king of cryptocurrency was great, then so was the second decade. It’s a firm conviction anyway Sam Bankman-Freed, founder and current CEO of the FTX platform.

Sam Bankman-Freed told Financial Times what if a company formed in 2019 overtakes its competitors Coinbase and Binance, it might considerbuy reputable financial institutions such as American banking giants Goldman Sachs as well as CME Group Exchange

“If we become the largest cryptocurrency exchange, buying a Goldman Sachs bank or a CME Group stock exchange will be entirely possible. “

Some details about the FTX extension

Leader FTX went further in his forecast, noting that his company don’t even need an IPO continue to develop:

“We were lucky that we didn’t have to do [une entrée en bourse] because we don’t need capital (…) However, see the quote [de ses actions] has potentially important benefits for the company, such as brand awareness (…) We do not seek to actively enter the stock market, but we want to be able to do so if we want to. “

FTX is in the process of fundraising thanks to a new round of private investment that can bring the overall valuation of the cryptocurrency exchange to $ 20 billion Americans.

Separately, Sam Bankman-Fried said he would not wait for his company to become the world’s largest cryptocurrency exchange before starting to acquire companies, although he did not specify which companies it is.

In addition to planning for growth and mergers, FTX Exchange is also working hard to build brand awareness. In just the past few weeks, the crypto derivatives platform has successfully signed sponsorship deals with Major League Baseball (MLB) and American football star Tom Brady.

Back to top button