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FTX US president Brett Harrison reportedly says there are two catalysts that could awaken crypto trading volume from its slumber.
In a new interview with Fortune, Harrison says that a rally in the digital asset markets as well as regulatory clarity from authorities could bring crypto trading volume back to life.

“There are two events that would probably bring significantly more volume. One is crypto prices going up again, sure…that’s also true for stocks. Number two, I think, is when there’s actually regulatory clarity over crypto exchanges.”
Harrison says that the recent bill proposed by US officials to empower the Commodities Futures Trading Commission (CFTC) to oversee many digital assets could be the clarity that markets are looking for.
“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, every family office mutual fund who 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.”
Harrison also says that clarity in the US could snowball elsewhere around the globe.
“There are many jurisdictions that are looking to see how the US acts, and want very much to craft their regulation around it, [and many of those nations] would look, for example, to our registration process, figuring out what disclosures are required in order for a token to be deemed listable for retail investors.”
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The post FTX.US President Brett Harrison Says Two Things Will Make Crypto Trading Volume Explode: Report appeared first on The Daily Hodl.


FTX US president Brett Harrison reportedly says there are two catalysts that could awaken crypto trading volume from its slumber. In a new interview with Fortune, Harrison says that a rally in the digital asset markets as well as regulatory clarity from authorities could bring crypto trading volu...

dailyhodl.com

FTX.US President Brett Harrison Says Two Things Will Make Crypto Trading Volume Explode: Report

Sam Bankman-Fried – Co-Founder and CEO of FTX – said the tension between his company and the top financial watchdog in the UK – the FCA – was unexpected. In his words, the two sides have been discussing regulatory requirements “for a while.”
Earlier this week, the British agency insisted that FTX does not have the necessary license to offer its crypto products and services in the country.
SBF’s Position on the Matter
In an interview for The Financial Times, Sam Bankman-Fried revealed that FTX and the UK FCA have been “in a discussion about licensing for a while.” As such, he was surprised that the watchdog alerted British consumers that the exchange lacks the authorization to operate in the Kingdom.
He further explained that the agency might have wanted to warn people about scams impersonating the company, not the trading venue itself.
Whatever the reasons, the 30-year-old billionaire vowed to follow the watchdog’s obligations and clear the issues with it:
“We believe we are in compliance with UK regulations but will as always act promptly if we receive any guidance from regulators.”
Sam Bankman-Fried, Source: Forbes
It is worth noting that every firm that wants to provide cryptocurrency services and products in the United Kingdom should first register with the FCA and cover certain anti-money laundering procedures. They must obtain a license to provide regulated activities such as payment and derivatives. However, companies registered oversea (such as FTX) are an exception to that rule.
Last year, Binance also had to tackle similar challenges with the FCA. The latter claimed that Binance Markets Limited (a UK-based subsidiary of the world’s largest crypto exchange) is not permitted to service local customers.
After hiring extra personnel and introducing mandatory Know-Your-Customer (KYC) requirements, the platform settled the dispute.
Is the UK on a Crypto Path With the New PM?
Despite the stern tone the FCA puts on display when it comes to the digital asset industry, many of the UK’s top politicians are crypto proponents.
Earlier this month, Liz Truss was announced as the country’s new Prime Minister. Four years ago, she advocated for removing regulations that assumingly halt crypto’s development.
To become the nation’s new leader, she was preferred over Rishi Sunak (Chancellor of the Exchequer from 2020 to 2022). Interestingly, he also presented himself as a supporter of the asset class, arguing that the UK could thrive economically if it became a global blockchain hub.
The post SBF Surprised by FCA’s Warning Against FTX, Says They’ve Been in Talks appeared first on CryptoPotato.

Despite not agreeing with the FCA's warning, Sam Bankman-Fried vowed to abide by the regulator's requirements and settle the issues.

cryptopotato.com

SBF Surprised by FCA’s Warning Against FTX, Says They’ve Been in Talks


CNBC reported on Wednesday that cryptocurrency exchange FTX is in talks with investors for up to $1B in new capital at a valuation of about $32B, according to sources with direct knowledge of the matter.



The negotiations are ongoing, and the terms could change, claim the people cited in the paper. The exchange is yet to confirm the reports.



FTX hailed this crypto winter after leading bailouts



In the meantime, FTX has been on a purchasing spree despite the market’s deterioration, with the exchange reportedly acquiring a 30% stake in Anthony Scaramucci’s SkyBridge Capital.



The Sam Bankman-Fried-led company just this year granted bailouts to several troubled crypto companies.



For this, he has been hailed the “JPMorgan” of cryptocurrency, saving crypto firms during this protracted crypto winter. BlockFi, a cryptocurrency lender, received a $250 million credit from the crypto exchange. Canadian cryptocurrency asset trading platform Bitvo was also bought by FTX in June, per reports cited by Be[In]Crypto.



This month, GameStop Corp. and FTX US also announced a partnership through which more GameStop customers can access FTX’s community and marketplaces for digital assets.



With that, Bloomberg claimed in June that FTX was also attempting to acquire Robinhood, although Bankman-Fried denied the reports. In addition, the exchange also put to rest rumors that it’s looking to buy Huobi.



However, FTX is also gaining an edge over its many competitors amid the crypto winter. CNBC reported last month that the platform’s revenue grew from $90 million in 2020 to $1 billion in 2021. 



Binance a tough competitor



The top crypto exchange by volume in the world, Binance, claimed 55.1% of the spot volume market share in August, according to CryptoCompare research, as top-tier exchanges continued to dominate the market. 



The report noted volumes for individual exchanges for the last three months, highlighting that Binance (Grade AA) was the largest top-tier spot exchange by volume in August, trading $438 billion. This was followed by Coinbase (Grade AA) trading $58.3B and AAX (Grade BB) trading $54.9B, OKX (Grade BB) trading $53.6B and FTX (Grade A) trading $49.1B.



Source: CryptoCompare



According to sources cited in the Wall Street Journal, the primary bids for the assets of insolvent cryptocurrency lender Voyager Digital Ltd. have come from the exchanges FTX and Binance, with the latest bid for Binance being roughly $50 million, somewhat higher than the rival bid from FTX.
The post FTX Undeterred by Crypto Winter, Continues Courting Deep-Pocket Investors appeared first on BeInCrypto.


FTX is in talks with investors for up to $1B in new capital at a valuation of about $32B, according to sources with direct knowledge of the matter.
The post FTX Undeterred by Crypto Winter, Continues Courting Deep-Pocket Investors appeared first on BeInCrypto.


beincrypto.com

FTX Undeterred by Crypto Winter, Continues Courting Deep-Pocket Investors

The potential $1 billion funding round would add to the $400 million FTX raised in January, with the firm said to be seeking more capital to snap up deals amid the crypto winter. 

cointelegraph.com

FTX in talks with investors to raise $1B for further acquisitions — Reports

Cryptocurrency exchange FTX could be in talks with several investors, seeking to raise $1 billion, increasing the company’s valuation to nearly $32 billion.
According to a CNBC report, this billion-dollar raise would be the second of 2022. Some of the capital raised will be used to fuel other deals, such as buying other cryptocurrency exchanges that have been hit by the crypto winter. Until now, the exchange has not yet shared an official stance regarding such reports.
FTX has already invested in over 20 companies, including BetDEX, Paxos, Web3Auth, and Limit Break. It has acquired a  number of crypto startups, including Blockfolio, LedgerX, Bitvo, and Liquid Global. On the other hand, major firms like SoftBank, Temasek, Pantera Capital, Digital Currency Group, and Sequoia Capital have invested in the exchange.
FTX Is Prepared To Buy More Crypto Companies
A couple of months ago, Bankman-Fried, said during an interview that “they have a responsibility to seriously consider stepping in” to stop the contagion of companies that were filing for bankruptcy. Something he says they have done “several times in the past.”
However, beyond the entrepreneur’s good intentions, FTX is preparing to acquire crypto companies to aid in its expansion, as is the case of Voyager Digital, a crypto lender that filed for bankruptcy in July. FTX is competing against Binance for the acquisition of Voyager’s assets.
As CryptoPotato reported, FTX and Binance made $50 million buyout bids for Voyager Digital’s assets. The winner of the auction will be announced by September 29.
In addition to these acquisitions, FTX continues to expand in the U.S. through strategic partnerships with other companies such as GameStop, with which it signed a partnership today to become the preferred FTX.US retail gaming partner.
This was announced by Brett Harrison, president of FTX.US, who said they would leverage GameStop’s high traffic retail locations and web presence “to further merge gaming and crypto fans”.
Growing During the Crypto Winter
FTX is one of the few cryptocurrency exchanges that has managed to achieve significant growth throughout the year despite the adverse conditions, part of this is because FTX is a private company that is not publicly traded.
As a result, FTX managed to increase its revenue by more than 1000% in 2021, from $89 million to more than $1.02 billion. It is worth mentioning that in 2020 FTX’s revenue was just $14 million.
However, that year, the FTX conglomerate acquired its first cryptocurrency company “Blockfolio” for $150 million to offer the app’s trading services to American users, complying with U.S. regulations.
According to CNBC data, which was confirmed by FTX CEO and founder Sam Bankman-Fried, the company earned about $270 million in revenue during the first quarter of 2022, unlike many competitors that have reported losses or even filed for bankruptcy.
The post FTX Seeking $1 Billion Financing to Raise Valuation to $32 Billion, Reports appeared first on CryptoPotato.

Reports have emerged that the cryptocurrency exchange FTX could be in talks to raise $1Bn and use it to further expand its domains.

FTX price	$23.54
Low - High 24H	$23.45 - $23.94
Market cap	$3.15B
Volume 24H	$27.55M
All time high	$84.18 -72.07% September 9th 2021
All time low	$1.15 1945.16% September 6th 2019
Genesis date	N/A

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