According to CNBC, 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.
Big fish eat little fish
In a recent interview, Brett Harrison of FTX U.S. said that they are in an excellent position in terms of financial resources and will definitely seek attractive opportunities for mergers and acquisitions on the market. Harrison said a particular focus will be on businesses that will help FTX U.S. either secure more users or obtain licenses from U.S. regulators. Citing examples, one might recall the exchange’s purchase of Blockfolio in 2020 or FTX founder Sam Bankman-Fried’s recent purchase of a stake in popular brokerage service Robinhood.
Obviously, in making these purchases, FTX was looking for the same opportunity to increase the active users of its own products. Speaking of obtaining licenses, it may be recalled how, in 2021, FTX U.S. acquired derivatives exchange LedgerX, which already had a number of regulatory licenses.
Ripple CEO, Brad Garlinghouse did not stay away and also offered a couple of insights on the topic. At the World Economic Forum in Davos, Garlinghouse stated that Ripple’s balance sheet is very strong, predicted mergers and acquisitions trends in the crypto industry and assured the public that Ripple will definitely consider such things.
Summing up his speech, Garlinghouse confidently remarked that “We’re [Ripple] now at a stage of growth where I think we’re more likely to be the buyer versus the seller.”
Sourced from u.today.
Written by Gamza Khanzadaev on 2031-10-21 09:38:07.
