FTX founder Sam Bankman-Fried further shared that he is not planning to buy Huobi<\/li>\n<\/ul>\nFTX CEO and crypto entrepreneur Sam Bankman-Fried has finally issued a clarification via Twitter adding that contrary to the popular public opinion, his crypto exchange FTX is not planning to acquire Huobi. <\/p>\n
FTX Is Not Buying Huobi<\/strong><\/p>\nSam Bankman-Fried, CEO of crypto exchange FTX took to Twitter to dismiss the growing assumptions of the masses concerning the acquisition of crypto exchange Huobi. <\/p>\n
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It was earlier reported that FTX was actively eyeing crypto exchange Huobi and may soon propose an acquisition deal for the same, however, on Monday, SBF issued a new clarification via Twitter adding that FTX is not planning to buy Huobi. <\/p>\n
Just to be explicit because apparently a lot of people are saying this:<\/p>\n
No, we are not planning to acquire Huobi.<\/p>\n
FTX was recently embroiled in an array of swirling rumors concerning Huobi and the exchange being potentially interested in its acquisition. It was also reported that Sam Bankman-Fried alongside Justin Sun were strong contenders in the race to acquire a 60% stake in the Huobi crypto exchange. However, SBF’s recent tweet dismisses such developments outlining that FTX is, in fact, not planning to buy Huobi. <\/p>\n
FTX Expands Its Base To Attract New Users <\/strong><\/p>\nThe Bahamas-based FTX crypto exchange has continuously been scaling its services to establish a sturdy user base. The exchange has been on a consistent spending spree looking forward to new acquisitions in its bid to expand its reach. The exchange along with its US-based subsidiary had recently raised nearly $2 billion which according to SBF could be used to pursue suitable acquisitions. <\/p>\n
“FTX is a profitable company…You can look at the amount that we’ve raised over the last year or two — it’s a few billion dollars. That gives maybe a sense of where we are in terms of cash that was explicitly viewed from a potential acquisition angle.” SBF later shared (Bloomberg)<\/p>\n
FTX has consistently been working towards its expansion with the intent to offer a new suite of products to the masses. The exchange had earlier acquired LedgerX, which is a Commodity Futures Trading Commission-regulated exchange and clearing house. In April, the firm had also invested its stake in IEX Group INC, alongside investing a 7.6% stake in Robinhood Markets Inc in its bid to establish market dominance. <\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The crypto entrepreneur SBF took to Twitter<\/p>\n","protected":false},"author":3,"featured_media":162847,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
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