London Daily

Focus on the big picture.
Sunday, Jul 06, 2025

29 year old Crypto exchange CEO  plan to buy financial institutions such as Goldman Sachs

29 year old Crypto exchange CEO plan to buy financial institutions such as Goldman Sachs

According to the 29-year-old CEO of Digital Coin Exchange FTX, some of the world’s most prestigious financial institutions could be targeted for acquisition by young crypto companies.
Sam Bankman-Fried told the Financial Times that if the company founded in 2019 overtakes its rivals Coinbase and Binance, it could consider buying established financial institutions such as US banking giants Goldman Sachs and Exchange CME Group.

“If we are the largest exchange, [buying Goldman Sachs and CME] It’s not out of the question at all, “says Bankman Fried.

The statement emphasizes that a closer focus from regulators has not undermined the grand ambitions of senior executives in the fast-growing crypto sector.

So far, these ambitions are still going on. FTX wants evaluation around $ 20 Billion in Latest Financing RoundIn a recent interview, Bankman Fried told FT’s sister publication, Nikkei Asia. Goldman Sachs has a market value of approximately $ 135 billion and CME weighs approximately $ 76 billion.

But rival exchange Coinbase important At $ 76 billion, the same as French banking giant BNP Paribas at the time of the public offering earlier this year, the crypto-focused settlement company Circle announced plans to list on the public offering market this week at a valuation of $ 4.5 billion.

Bullish, decentralized exchange backed by a group of billionaire investors, Announcement It will be listed in New York through a Spac transaction with a valuation of approximately $ 9 billion. Bankman-Fried said FTX is considering listing on a traditional exchange, but such plans have been withheld so far.

“We are in a fortunate position that we don’t need capital because we don’t need it … On the other hand, listing has potential significant benefits, such as brand awareness,” he said. It was. “We are not actively looking for a list, but we want to be in a position to move forward if necessary.”

Bankman Fried is worth it Estimated $ 8.7 billionAccording to Forbes, from the ownership of FTX and crypto market maker Alameda Research, which was founded in 2017. He is currently participating in a new funding round for a private amount.

“M & A will be the most likely use of funds,” he said without specifying a possible target. He told Nikkei Asia that the new capital would be used for acquisitions to target individual investors and expand the company’s reach.

Unlike many crypto evangelists, Bankman-Fried states that traditional financial markets and digital currencies co-exist and play a complementary role. In his view, it will take years for a global regulatory framework to emerge, but regulation is inevitable.

“The biggest change we’ve seen last year is that crypto is big enough for regulators to care about,” he said.
Crypto exchange FTX sets sights on blue-chip acquisitions Source link Crypto exchange FTX sets sights on blue-chip acquisitions
Newsletter

Related Articles

0:00
0:00
Close
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
×