Billionaire and FTX co-founder Sam Bankman-Fried said the leading crypto asset exchange aims to make a number of acquisitions and could spend up to $2 billion on such efforts. The FTX chief executive officer highlighted in a recent interview that a fraction of the funds raised by the company were “explicitly viewed from a potential acquisition angle.”
Bankman-Fried explained during the interview with Bloomberg’s Versprille and Yang that the company’s war chest of funds could be leveraged for a number of acquisitions.
“FTX is a profitable company,” the FTX executive explained. “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.”
The FTX co-founder further detailed that the company wants to be able to offer customers more products so they can stay on the platform for all their needs, Bankman-Fried remarked. As far as acquisitions are concerned, Bankman-Fried said the firm is keeping a focused lookout. The FTX executive added:
It’s always something that we’re going to be open to and keeping our ears to the ground on.
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