Fresh after CEO Sam Bankman-Fried disclosed a stake in Robinhood Markets Inc (NASDAQ:HOOD), FTX reportedly is in talks regarding acquisitions with large firms including Webull, Public.com, and Apex Clearing.
Why This Matters: FTX is looking to build a global liquidity venue.
In a December conversation with Bankman-Fried, Benzinga was told that FTX is committed to solving traditional frustrations with compliance and infrastructure at other cryptocurrency exchanges.
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Further, through an acquisition, FTX would bring itself closer to making good on plans to offer commission-free U.S. equity market and crypto trading under one roof.
“The U.S. has the largest retail base in the world, and you don’t want to have to split into two different apps to trade two different asset classes,” Brett Harrison, president of FTX US said to CNBC.
“This is not a revenue-generating model for us, it’s more of a user acquisition strategy,” he added.
Click here to read about FTX CEO Sam Bankman-Fried talk regulation, tokenization, and building ‘a global liquidity venue’
