Cryptocurrencies
Crypto Giant FTX Ready With Billions of Dollars for Acquisitions
- Firm looking to offer more products to clients, CEO says
- Sam Bankman-Fried says firm mulling moves to help it expand
Sam Bankman-Fried
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Fast-growing crypto exchange FTX is prepared to spend billions of dollars to buy stakes in other companies as it looks to grow the suite of products it offers customers, according to the firm’s chief executive officer.
Billionaire Sam Bankman-Fried, who’s also the firm’s co-founder, said on Friday that recent rounds of fundraising by FTX and its US entity -- totaling more than $2 billion -- could be used to bankroll the moves.