The FTX exchange to dream about purchasing Goldman Sachs and CME Group
Industry News
The financial market is under revolutionary changes. The investment financial giants had been criticizing digital assets for a long time, and now FTX, the crypto derivatives exchange founded in 2017, is thinking about the possibility of purchasing Goldman Sachs and CME Group in the future.
Meanwhile, the exchange team highlights that the FTX primary goal is to overrun Coinbase and Binance. The estimated market capitalization of this trading platform is $20 billion. In May 2021 the exchange announced to attract $1 billion more investments to tighten the cooperation with the leading payment services providers.
With an average daily trading volume of $6.4 billion (spot and derivatives), FTX occupies the 7th position. Binance leads this ranking with $62.97 billion 24h trading volumes; meanwhile, the world’s largest crypto exchange faces a string of troubles with governments of Thailand, Singapore, the United Kingdom, and several other countries. Legal obstacles may lead to outflows.
While talking about the further goals of FTX, the exchange’s founder Berkman-Fried highlighted that going public is not among the platform’s top priorities; nevertheless, the step is useful enough from the viewpoint of brand recognition. The 29-year-old billionaire said that FTX is always ready to step forward.
“If we are the biggest exchange, is not out of the question at all” – Bankman-Fried’s words seem too ambitious; meanwhile the crypto market experiences an unbelievable splash. By comparison, Goldman Sachs has a market cap of $127 billion, and CME Group’s capitalization equals $76 billion.
Seeking answers or advice?
Share your queries in the form for personalized assistance
