According to a recent interview of CNBC with Ripple and FTX, Brett Harrison, president of cryptocurrency exchange FTX U.S., stated that the firm is in “a very strong situation in terms of our capital and liquidity” and would “look around the market for potential merger and acquisition opportunities.”
The top crypto companies, FTX and Ripple, are looking for lucrative acquisitions, with the hope of securing growth through them. This message can be seen as a statement about the sufficiency of capital and the appropriate scale to spend money on acquisitions.
Harrison said that a particular focus would be on enterprises that will assist FTX US in acquiring more users or obtaining licences from US regulators. For example, consider the exchange’s 2020 acquisition of Blockfolio or FTX founder Sam Bankman’s recent acquisition of a share in popular brokerage firm Robinhood.
FTX was obviously looking for the same potential to grow the active users of its own products while making these transactions. In terms of getting licensing, FTX U.S. purchased derivatives exchange LedgerX in 2021, which already had a variety of regulatory licences.
Ripple CEO Brad Garlinghouse did not keep silent and had a few thoughts on the matter. Garlinghouse stated at the World Economic Forum in Davos that Ripple’s financial sheet is quite healthy, projected mergers and acquisitions trends in the cryptocurrency business, and guaranteed the public that Ripple will surely examine such things.
