Home » FTX’s Sam Bankman-Fried Points to Coinbase As Potential Acquisition

FTX’s Sam Bankman-Fried Points to Coinbase As Potential Acquisition

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  • Bankman-Fried confirmed discussions regarding funding for FTX and other acquisitions.
  • The crypto trading platform has already made several investments and acquisitions this year.
  • “There are a lot of opportunities in this market,” Bankman Fried said.

Sam Bankman-Fried Seeking further acquisitions for his crypto trading platform FTXWhen coin base could be a target.

Bankman-Fried, asked about making more acquisitions at the Wall Street Journal’s Tech Live conference on Tuesday, confirmed earlier reports of FTX’s funding. You didn’t specify what you were trying to do, but despite reports about it looking for a billion dollarssaid only that “some acquisition talks are going on in parallel while we look at how to grow the company.”

“We see a lot of opportunities in this market that we didn’t see last year,” he said. collapse in the crypto market this year.

When asked about future acquisitions, Bankman-Fried mentioned Coinbase, saying the trading platform has 20 times more users than FTX. He said that while FTX has so many involved crypto traders, Coinbase has a broader appeal that FTX can use.

By appealing to more casual and “retail” traders, Coinbase is “playing our long-term weakness,” he added. “It doesn’t make much sense to get more enthusiastic crypto traders,” Bankman-Fried said. “What we are looking at more is the retail side.” Coinbase shares surged 13% on Tuesday, he said.

FTX is already many investments and acquisitions This year, it includes Canadian crypto trading platform Bitvo and, through its company, cryptocurrency lender Voyager. bankruptcy proceedings.

One investment Bankman-Fried didn’t make this year was in Twitter.of private text message Revealed as part of the platform’s lawsuit against Elon Musk scheduled for Friday $44 billion deal signed Bankman-Fried was keen to raise money to acquire the platform.His friend even told Mask that Bankman Freed had Considering acquisition of own platformUltimately he never took part in the turbulent deal, and Musk initially didn’t seem to know who Bankman Freed was.

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