Crypto exchange FTX and its United States arm FTX US have expanded over the past few years, but Brett Harrison believes LedgerX’s acquisition remains the most significant for the company.
Brett Harrison, the president of FTX US, the United States arm of the FTX crypto exchange, revealed in a recent interview with Fortune that LedgerX’s acquisition remains the most significant acquisition for the crypto exchange.
FTX is now one of the leading cryptocurrency exchanges in the world and continues to spend money on acquisitions. Harrison pointed out that the company has made several strides over the past year. He told Fortune that;
“Acquiring derivatives platform LedgerX last year was probably our single most significant acquisition. If FTX.US finally gets regulatory approval for margin trading, we will be in the best position of any futures exchange in the U.S. to offer derivatives on Bitcoin and Ether. And not just that, but just futures in general, and options in general.”
In recent months, FTX founder Sam Bankman-Fried personally acquired 7.6% of Robinhood, FTX also issued bailouts to companies such as BlockFi while it also bought Good Luck Games, which will be rolled into FTX Gaming.
FTX also announced in June it would be buying clearing platform Embed. This is in a bid to enhance its stock-trading offerings and provide a comprehensive trading application that spans all asset classes.
The company’s acquisition might not be over soon, as Sam Bankman-Fried recently said FTX still has $1 billion to spend on acquisitions. He said;
“You get to definitional issues here, of how much should we really feel comfortable deploying. Saying that there’s another ballpark billion that is completely unencumbered, certainly will get you within a factor of two of the right answer. We try not to empty the coffers, so to speak.”
There are talks that the Commodity Futures Trading Commission would be tasked with regulating the crypto space in the United States. Harrison said FTX welcomes the regulation of the market. He said;
“But let’s say that passes, and now the CFTC has oversight over, you know, Bitcoin and Ether, and FTX.US is able to register as a digital asset exchange. Every institution, every hedge fund, and every family office mutual fund that wants to get exposure directly to crypto can do so on an exchange that’s explicitly federally licensed. I think that will make a huge difference.”
He added that several other jurisdictions are looking to see how the US acts before they roll out their crypto regulation.