FTX CEO Sam Bankman-Fried advised CNBC on Thursday that the choice to permit a bitcoin futures ETF within the U.S. is a “big step ahead,” because the crypto buying and selling platform hopes to develop its footprint in America.
In an interview on “The Exchange,” Bankman-Fried mentioned the U.S. may quickly see extra structured merchandise from the cryptocurrency trade popping up that draw on regulated platforms, in addition to the introduction of recent authorized framework for cryptocurrencies.
“I’d not be stunned to see extra regulation of the markets and exchanges, particularly on the anti-market manipulation,” Bankman-Fried mentioned.
FTX additionally hopes to develop its buying and selling operations to the U.S., the place its cryptocurrency trade shouldn’t be out there. The corporate has workplaces in Chicago, Miami and different U.S. cities, however Bankman-Fried mentioned the most important obstacles in working its cryptocurrency trade platform within the nation are licensing and rules.
“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 the USA,” Bankman-Fried mentioned.
FTX is among the most highly-valued crypto companies on this planet, and Forbes estimates Bankman-Fried is the richest particular person in crypto, with a web price 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 resembling Tiger World and Softbank and even pension funds. The crypto trade agency moved its headquarters from Hong Kong to the Bahamas in September, a transfer Bankman-Fried mentioned was within the works for some time as a result of island nation’s enticing crypto framework and lack of Covid lockdowns.
On Thursday, the corporate said it raised $420 million from 69 buyers 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 mentioned. FTX acquired Blockfolio a yr in the past and Ledger X a number of months in the past. “There are a selection greater than we’re ,” he added.
NFL star Tom Brady and mannequin Giselle Bundchen, who’s Brady’s spouse, play outstanding roles in FTX commercials.
“I feel we’d do a bit extra of that,” Banksman-Fried mentioned of pursuing extra superstar commercial, although he famous the corporate has different priorities proper now.
“As a result of our targets listed here are to type partnerships that we’re actually excited by, and that we hope our customers will likely be actually excited by too, it is actually depending on who we will work one thing out with,” Bankman-Fried mentioned. “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.”