29-year-old crypto billionaire Sam Bankman-Fried said in a recent interview that buying Goldman Sachs is 'not out of the question'
Sam Bankman-Fried, CEO of crypto exchangeFTX, told the FT that acquiring Goldman Sachswas "not out of the question" should FTXgrow big enough.
- FTX is in the midst of a new funding round, but doesn't have current plans to IPO.
- Average daily trading volume on FTX has shot up 11-fold between October and April of this year.
Sam Bankman-Fried, the CEO of
"If we are the biggest exchange, [buying Goldman or CME] is not out of the question at all," Bankman-Fried told the FT.
FTX - which Bankman-Fried has previously said is seeking a $20 billion valuation - still has yet to overtake its crypto competitors Binance and Coinbase. But the exchange still has considerable room to grow, the 29-year-old billionaire said, hinting at future acquisitions.
Coinbase's IPO in April, seen by some as crypto's "coming out" moment, put the exchange at $76 billion, though
FTX is in the midst of a new funding round, but doesn't have current plans to IPO, Bankman-Fried told the FT.
"We don't need the capital … We are not actively looking to list, but we want to be in a position to go ahead if we want to," he said.
Bankman-Fried, who is worth some $8.7 billion himself, has taken a warmer tone toward regulation, noting that it is both inevitable and potentially beneficial to crypto brands.
An acquisition of Goldman Sachs, with a market cap of $128 billion, may be a ways off. But if anything, FTX's explosive growth lends some credence to Bankman-Fried's ambitions. Average daily trading volume on the exchange has shot up 11-fold between October and April of this year.
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