CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$26,655.00
  • ethereum
    ETH$1,595.12
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » FTX US Aims to Be an All-in-One Investment Platform, Said the President

    FTX US Aims to Be an All-in-One Investment Platform, Said the President

    Author: Jay Zhuang

    Last Updated Jun 12, 2022 @ 09:53

    The FTX US Head expressed confidence in receiving the license required by the CFTC to offer futures to its users.

    The US arm of the cryptocurrency exchange, FTX, has experienced exponential growth since its launch at the end of 2020. In less than 18 months, its user base has increased from 10,000 to 1.2 million.

    FTX US president outlined the company’s long-term plan at World Economic Forum, including seeking approvals from the Commodity Futures Trading Commission (CFTC) for offering futures options to its users and identifying what types of firms the company aims to acquire.

    BTC & ETH Futures

    Only days after announcing the launch of its stock trading services, FTX US unveiled its new plan of offering BTC and ETH futures. In an interview with CNBC, the exchange’s president Brett Harrison said the company has applied to offer BTC and ETH futures to US customers.

    Harrison was confident that the plan to offer the first real-time 24/7 margin for futures would significantly improve the exchange’s potential profits.

    “For most clearinghouses today, margin is done once per day, five days per week. We’re proposing to do this real-time, every 30 seconds, 24/7, and that is a novel aspect of our application.”

    Harrison praised the watchdog as a “principle-based” regulator that understands cryptocurrencies, adding that the conversation has been positive so far, and he is hopeful about the outcome. Earlier, the company had acquired LedgerX, which has the CFTC licenses for running a futures exchange.

    When asked about the company’s upcoming growth, the president commented on the recent push to enable users to trade and invest in hundreds of US exchange-listed securities, including ETFs. Seeing Robinhood as a successful example that channels equity retail investors to digital assets, Harrison said FTX aims to be an all-in-one investment platform for retail investors

    Expansion via Acquisitions

    Harrison said FTX US currently sits at the valuation of $8 billion, with good cash flow and sufficient capital to support its operations. He did not disclose plans for additional fundraising in 2022.

    He noted that the exchange aims to utilize such resources to strengthen its existing business, fund its clearinghouse for derivatives-related services, and ramp up efforts for potential merger and acquisition opportunities.

    Regarding the company’s plan for expansion, Harisson further noted that it remains open for acquisitions and mergers from multiple sectors. In particular, acquisitions that could bring in a new user base and obtain regulatory licenses will be what the company goes after.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • FTX
      FTX Invests $100 Million in Banking App, Forges Strategic Partnership
    • cftc_img
      CFTC Extends Deadline for Public Comments on FTX US Request for Amended Derivatives License
    • FTX_Europe
      FTX Launches a Regulated Branch in Europe and the Middle East
    Tags: FTX Exchange
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jay Zhuang
    More posts by this author

    Jay Zhuang is a journalist and artist with a background in digital art curation. He started writing about cryptocurrency in 2020 and began contributing to DAOs in 2021. He can be reached on Twitter.

  • bitcoin
    BTC$26,655.00
  • ethereum
    ETH$1,595.12
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    DeFi Without Native Rights Is Dead

    DeFi Without Native Rights Is Dead

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    Crypto Will Go Away If There’s No Privacy: Interview With Anoma and Namada’s Adrian Brink

    Crypto Will Go Away If There’s No Privacy: Interview With Anoma and Namada’s Adrian Brink

    What Is Shibarium? Everything You Need to Know About Shiba Inu’s Blockchain

    What Is Shibarium? Everything You Need to Know About Shiba Inu’s Blockchain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!