Saturday, December 4

The director of the exchange FTX has called the approval of the Bitcoin ETF a “big step forward”

According to CNBC, the CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, stated that the fact that the SEC has given the green light to a Bitcoin futures ETF is a “big step forward” in the adoption of cryptocurrencies in the United States. And he added that once the company overcomes all legal and regulatory hurdles, it wants to expand its exchange to the United States.

Likewise, Bankman-Fried added that during the next few months in the United States, it is expected to see more digital products associated with cryptocurrencies in a regulated manner.

The Bitcoin ETF developed by ProShares (BITO). It began trading on the New York Stock Exchange on Tuesday, rising more than 4% from its initial listing during its debut.

At the time of writing this article, the price of the Bitcoin BITO ETF stands at $ 39.51.  Source: Finance Yahoo
At the time of writing this article, the price of the Bitcoin BITO ETF stands at $ 39.51. Source: Finance Yahoo

Similarly, another Bitcoin exchange traded fund, developed by Valkyrie, will start today on Nasdaq.

The CEO of cryptocurrency exchange FTX. He hopes that very soon, new digital products linked to cryptocurrencies may emerge, in a more structured way in the United States. Therefore, he claimed, there will soon be much more regulation and centralization for cryptocurrencies.

Notably, Bankman-Fried is something of a celebrity in the cryptocurrency ecosystem. He is also the CEO of Alameda Research, a quantitative trading company. According to Forbes magazine, the 29-year-old entrepreneur has a fortune of $ 22.5 billion. Which makes him the (known) person with the most capital in the world of cryptocurrencies.

FTX will try to solve its regulatory problems in the United States

Despite the fact that the FTX exchange already has several offices in the United States, in cities such as Miami and Chicago. Bankman-Fried said they have certain obstacles with regulatory institutions and difficulties with licenses within the country. Which has prevented them from expanding their operations in the United States.

At this time, according to the CEO, the FTX legal team would be working with the CFTC and the SEC, as well as other regulatory agencies, to find a way for FTX to carry out legal, authorized and regulated operations in the United States.

FTX raised $ 420 million dollars in a round of financing with the purpose of expanding its operations in the world

Cryptocurrency exchange FTX has closed a financing round with 69 investors, raising a total of $ 420.7 million, on Thursday. The purpose of this round of financing is to support the exchange’s expansion into new jurisdictions around the world and ensure continued growth of the company, as reported by FTX this Thursday in a release.

“Today we are focused on positioning FTX as a reliable and innovative exchange by regularly engaging with regulatory institutions around the world and constantly looking for new opportunities to enhance our offerings for investors in digital assets.” FTX commented in the statement.

Also, this new round of financing comes a day after Bitcoin reached a new price record of $ 66,000. Because of this, investors are encouraged by the new launches of digital assets associated with cryptocurrencies.

FTX is one of the largest cryptocurrency exchanges in the world, competing with companies like Binance and Kraken. FTX specializes in the cryptocurrency token markets and leveraged trading. Using borrowed money to expand the magnitude of its users’ business operations.

According CoinMarketCap, FTX is the fourth largest cryptocurrency exchange globally. In the last 24 hours, the market volume on its platform has been $ 3.4 billion. Above are KuCoin, Coinbase and Binance in the first place.