Cryptocurrency exchange FTX is ready to spend billions of dollars to buy stakes in other companies. The exchange’s CEO Sam Bankman-Fried said this in an interview with Bloomberg.
Bankman-Fried said the $2 billion in financing recently received could be used for investments aimed at expanding the company’s range of services.
“FTX is a profitable company. You can look at the amount we’ve raised in the last year or two – it’s several billion dollars. That probably gives you an idea of where we are in terms of cash, which is clearly seen as a vehicle for potential acquisitions,” he said.
FTX raised $400 million in January and reached a valuation of $32 billion, bringing the total raised in the previous six months to nearly $2 billion.
In turn, the exchange’s U.S. division also raised $400 million in funding.