FTX chief praises Bitcoin ETF approval as he plans to expand into US
As reported by CNBC, CEO of crypto trading platform FTX, Sam Bankman-Fried, said the SEC’s green light for a Bitcoin futures ETF is a “huge step forward. “in the United States once the company overcomes all legal and regulatory hurdles. , it also plans to expand its business in the United States.
Recently, FTX has raised $420.7 million evaluated at a whopping $25 billion.
Bankman-Fried expects more crypto products regulated in the United States
ProShares’ Bitcoin futures ETF (under the ticker symbol BITO) began trading on the NYSE on Tuesday, rising more than 4% to debut.
Another BTC futures exchange-traded fund, by Valkyrie, is to kick off on the Nasdaq today.
The CEO of FTX expects more structured crypto products to emerge fairly quickly in the United States on regulated platforms. Therefore, he claimed, more regulation for markets and exchanges may happen soon there.
FTX Solves US Regulatory Problems
Even though the exchange already has offices in several locations in the United States, such as Miami and Chicago, Bankman-Fried said it faces some regulatory and licensing hurdles in that country.
At the moment, according to the CEO, the FTX legal team is working with the CFTC and the SEC, as well as some other regulatory agencies, to find a way for FTX to conduct licensed and regulated operations in the U.S.
