FTX co-founder Sam Bankman-Fried said the exchange aims to make a number of acquisitions and could spend up to $2 billion on such efforts. Crypto Acquisitions
is thinking about expansion moves and acquisitions. The crypto exchange FTX and its parent company West Realm Shire Services Inc. have raised over $2 billion from investors.shows it is the second-largest cryptocurrency trading platform below Binance in terms of global trade volume. During the past 24 hours, FTX has recorded $1.56 billion in crypto trades with its 338 coins and 524 trading pairs.
Bankman-Fried explained during the interview with Bloomberg’s Versprille and Yang that the company’s war chest of funds could be leveraged for a number of acquisitions. “FTX is a profitable company,” the FTX executive explained. “You can look at the amount that we’ve raised over the last year or two – it’s a few billion dollars. That gives maybe a sense of where we are in terms of cash that was explicitly viewed from a potential acquisition angle.”
The FTX co-founder further detailed that the company wants to be able to offer customers more products so they can stay on the platform for all their needs, Bankman-Fried remarked. As far as acquisitions are concerned, Bankman-Fried said the firm is keeping a focused lookout. The FTX executive added:Bankman-Fried’s comments follow FTX US
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