FTX CEO Sam Bankman-Fried instructed CNBC on Thursday that the choice to permit a bitcoin futures ETF within the U.S. is a “enormous step ahead,” because the crypto buying and selling platform hopes to broaden its footprint in America.
In an interview on “The Exchange,” Bankman-Fried stated the U.S. might quickly see extra structured merchandise from the cryptocurrency business popping up that draw on regulated platforms, in addition to the introduction of latest authorized framework for cryptocurrencies.
“I’d not be shocked to see extra regulation of the markets and exchanges, particularly on the anti-market manipulation,” Bankman-Fried stated.
FTX additionally hopes to broaden its buying and selling operations to the U.S., the place its cryptocurrency change will not be out there. The corporate has places of work in Chicago, Miami and different U.S. cities, however Bankman-Fried stated the largest obstacles in working its cryptocurrency change platform within the nation are licensing and laws.
“We’re excited to work with the [Commodity Futures Trading Commission], excited to work with the SEC and with different regulators to determine how we will have absolutely regulated and licensed market exercise in america,” Bankman-Fried stated.
FTX is without doubt one of the most highly-valued crypto companies on this planet, and Forbes estimates Bankman-Fried is the richest individual in crypto, with a internet value of $22.5 billion.
At simply two years previous, FTX is already valued at $25 billion after its most up-to-date spherical of funding. It is acquired investments from powerhouse companies comparable to Tiger International and Softbank and even pension funds. The crypto change agency moved its headquarters from Hong Kong to the Bahamas in September, a transfer Bankman-Fried stated was within the works for some time as a result of island nation’s engaging crypto framework and lack of Covid lockdowns.
On Thursday, the corporate said it raised $420 million from 69 traders in its newest spherical of funding, with the numbers “420” and “69” serving as reminders that meme tradition remains to be valued by crypto connoisseurs.
“The largest use of the funding proceeds is extra prone to be acquisitions and investments,” Bankman-Fried stated. FTX acquired Blockfolio a yr in the past and Ledger X just a few months in the past. “There are a variety greater than we’re ,” he added.
NFL star Tom Brady and mannequin Giselle Bundchen, who’s Brady’s spouse, play outstanding roles in FTX ads.
“I feel we would do a bit extra of that,” Banksman-Fried stated of pursuing extra celeb commercial, although he famous the corporate has different priorities proper now.
“As a result of our targets listed here are to kind partnerships that we’re actually excited by, and that we hope our customers will probably be actually excited by too, it is actually depending on who we will work one thing out with,” Bankman-Fried stated. “I am actually optimistic that we might be able to develop our U.S. footprint by fairly a big quantity over the following few years.”