Sam Bankman-Fried says FTX can Acquire Goldman Sachs and CME Group

Sahaj  |  Jul 14, 2021

The CEO of FTX, Sam Bankman-Fried has recently said that acquiring Goldman Sachs and CME is not out of the question provided that the exchange is able to beat competition from Coinbase and Binance. As revealed in the talks with the Financial Times on July 14, SBF said that FTX has the potential to become the top crypto exchange and following that, it can buy financial giants such as Goldman Sachs and CME group.

FTX May Acquire Goldman Sachs and CME Group, Says Sam Bankman-Fried 

Sam Bankman-Fried revealed on July 14 that provided the condition where FTX is on the top of the list of crypto exchanges then it may consider buying the financial giant of the United States, Goldman Sachs, and Chicago Mercantile Exchange. He said:

“If we are the biggest exchange, [buying Goldman Sachs and CME] is not out of the question at all.”

Talking about the net worth of the Founder and CEO of Alameda Research and CEO of the FTX crypto exchange, SBF, it is over $8.7 billion.

In accordance with the data revealed by Macrotrends, the market capitalization of Goldman Sachs and the CME Group is $129 billion and $75.5 billion respectively.

In addition to this, it should be noted that Sam has already revealed that even though the firm is growing rapidly, it would take some time for FTX Exchange to possess the power to acquire these giants.

Funding Round to go Public And Target The Retail Investor

As revealed earlier in the publication, the funding round of $20 billion will be contributing to target the retail investor share of the market.

Moreover, Sam noted that:

“We are not actively looking to list but we want to be in a position to go ahead if we want to. We are in a fortunate position of not having to do it because we don’t need capital . . . on the other hand there are potentially big advantages to listing such as brand recognition.”

Related News