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El exchange FTX US aims to be an all-in-one investment platform, CEO Brett Harrison said in an interview with CNBC.
- FTX aims to soon be licensed to offer BTC and ETH futures in the U.S.
- FTX user base grew in the United States
- FTX US currently has a valuation of USD $8 billion.
The crypto crisis doesn’t make exchanges stop.
Brett Harrison, president of FTX US the U.S. arm of the exchange FTX expressed his confidence that he would receive the license required by the Commodity Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Trading Commission (CFTC) from the United States, to offer future Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. to its users.
Harrison outlined the company’s long-term plan in the World Economic Forum, including seeking CFTC approvals to offer futures options to its users and identifying what types of companies the company intends to acquire.
Just days after announcing the launch of its stock trading services, FTX US unveiled its new plan to offer 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 U.S. customers.
Harrison commented on Twitter, announcing the interview:
In FTX user and revenue growth, operating a retail brokerage, working with the CFTC, our plans to offer crypto futures trading on margin to U.S. customers, how we evaluate deal flow, our plans for future acquisitions, and more!
on@FTX_Official user and revenue growth, operating a retail stock brokerage, working with the CFTC, our plans to offer crypto futures trading on margin to US customers, how we evaluate deal flow, our plans for future acquisitions, and more! ⬇️ https://t.co/28Sac3Y7GR
– Brett Harrison (@Brett_FTXUS) May 26, 2022
Growth and plans
He said the U.S. arm of the FTX exchange has experienced exponential growth since its launch in late 2020. In less than 18 months, its user base has grown from 10,000 to 1.2 million.
Harrison is confident that the plan to offer the first 24/7 real-time margin for futures would significantly improve the exchange’s profit potential:
“For most clearing houses today, the margin is done once a day, five days a week. We propose to do this in real time, every 30 seconds, 24/7, and that’s a novel aspect of our application.”
Harrison praised the watchdog as a regulator. “based on principles” comprising cryptocurrencies, adding that the conversation has been positive so far and he is hopeful about the outcome. August 2021, the company acquired LedgerX which has the licenses of the CFTC to trade a futures exchange.
Cuando se le preguntó sobre el próximo crecimiento de la compañía, el presidente comentó sobre el reciente impulso para permitir a los usuarios negociar e invertir en cientos de valores que cotizan en bolsa de EE. UU., incluidos los ETF. Ve, por ejemplo, a Robinhood as a successful example that channels retail equity equity is the funds that would be returned to a company's shareholders if all of the company's assets were dissolved and all debts were paid off in the event of liquidation. investors into digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets. In this regard, Harrison said that FTX aims to be an all-in-one investment platform a place to buy, sell and store cryptocurrency for retail investors.
Harrison said FTX US currently has a valuation of USD $8 billion, with good cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. flow and sufficient capital capital is most commonly defined as the large sum of money you would use to invest. to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. its operations. He did not disclose plans to raise additional funds in 2022.
He noted that the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. aims to use these resources to strengthen its existing business, fund its clearinghouse for derivatives-related services and increase efforts for potential merger and acquisition opportunities.
Regarding the company’s expansion plan, Harisson further noted that it remains open to acquisitions and mergers across multiple sectors. In particular, acquisitions that could bring in a new user base and obtain regulatory licenses will be what the company will be looking for.
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