FTX U.S., the American affiliate of cryptocurrency exchange FTX, has raised $400 million in its first external fundraising round.
Bankman-Fried established FTX U.S. as the American sister to distinguish it from his main exchange, as officials in Washington began taking a closer look at the digital currency market. Trading launched on the platform in May 2020.
The company facilitated more than $67 billion in spot crypto trades last year. It now has around 1.2 million registered users in total. Harrison says the U.S. market for crypto derivatives pales in comparison to the international marketplace. Investors see that there's"an enormous opportunity for us to bring much of that volume onshore," he added.Regulation is coming
Harrison said officials in Washington have two primary concerns with crypto — stablecoins and oversight of exchanges.