October 27, 2022

FTX Is Raising Fresh Cash, in Part for Acquisitions

Yesterday, Oct. 25, FTX CEO Sam Bankman-Fried spoke at the WSJ's Tech Live conference. Among other things, he said that the exchange is targeting the retail sector and is now actively seeking investors to buy other companies.

"We don't see much point in fighting for large and active traders. They know very well who we are and what our capabilities are. Instead, we're going to focus on retail," the FTX founder said at the conference.

At the same time to attract a new audience SBF plans to expand the list of available services. Among other things, this is possible through the absorption of other fintech firms.

For this, the exchange needs investors. And negotiations on this are already underway, although SBF did not name names. The head of FTX also expressed optimism about the current trend in the digital asset market, noting that the rate of innovation remains quite high.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

View All Posts By Jack Evans