CNBC: FTX Considers Buying a Brokerage Company

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FTX cryptocurrency exchange leadsnegotiations with three startups: Public.com, Webull and Apex Clearing. Interest in brokerages could mean FTX is planning a major move into stock trading.

As reported by CNBC with reference toAccording to sources familiar with the situation, all three companies with which FTX is negotiating are registered with the Financial Institutions Regulatory Agency (FINRA). This gives them the right to buy and sell securities, such as shares, themselves or on behalf of their clients. 

Public.com and Webull are also registered investment advisors. Such companies typically engage in business as asset, portfolio and wealth managers.

Let us remind you that at the end of April the GeneralFTX Director Sam Bankman-Fried increased his stake in Robinhood to 7.6%. At the end of trading, his stake in the company was approximately $650 million. However, according to the FTX CEO, he viewed Robinhood as an attractive investment and nothing more.

Last week the US unitFTX announced that select clients of the exchange can now trade company shares and ETF units. With the new FTX Stocks product, clients will be able to fund their accounts using the stablecoin USD Coin (USDC) and bank transfers. The full release of the product is scheduled for mid-summer.

Earlier, analysts from the consulting company Argus published a report in which they stated that crypto exchanges such as Binance, Coinbase and FTX were trading insider information.