Cryptocurrencies
Binance Takes Minority Stake in Crypto Derivatives Exchange FTX
- FTX says the investment was in ‘tens of millions’ of dollars
- FTX debuted in May, and has about $500 million in daily volume
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Binance Holdings Ltd., one of the world’s largest cryptocurrency-trading platforms, made a minority investment in the derivatives exchange FTX.
The investment was in the “tens of millions,” and values FTX, which debuted in May, in the “hundreds of million of dollars,” said Sam Bankman-Fried, who founded the exchange and also heads the crypto-trading firm Alameda Research.