FTX US to Offer Stock Trading Soon

The crypto exchange has begun signing up users for a wait list for its upcoming stock platform.

AccessTimeIconFeb 11, 2022 at 7:20 p.m. UTC
Updated Feb 11, 2022 at 9:52 p.m. UTC

Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

FTX US has begun to accept users for a wait list to learn about its soon-to-be-launched stock trading platform, President Brett Harrison announced in a tweet on Friday.

  • FTX US, the American subsidiary of crypto exchange FTX, specializes in the spot trading of cryptocurrency, but has been planning moves into other markets, including crypto derivatives through its acquisition of Ledger Holdings.
  • Last month, rival crypto exchange eToro announced it would offer stock and exchange-traded fund (ETF) trading to its U.S. customers, while BitStamp also disclosed plans to do so. Meanwhile, many primarily stock trading apps such as Robinhood have been moving to offer crypto trading.
  • Harrison tweeted in January that FTX.US was working actively on its stock trading service and teased some features it hoped to offer.
  • Last month, FTX US raised $400 million at an $8 billion valuation from investors, including Multicoin Capital, Paradigm, SoftBank and Temasek. It intends to use the funds to create new business lines and explore strategic investments and acquisitions.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

CoinDesk - Unknown

Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

Trending

1
CoinDesk - Unknown
Celsius Shareholder BnkToTheFuture Proposes Bitcoin Investments, Restructuring in Rescue Bid

Community investing protocol BnkToTheFuture put forth three proposals on Thursday night in a bid to save Celsius from going under.

CoinDesk - Unknown
2
CoinDesk - Unknown
Three Arrows Capital's Su Zhu Looks to Sell $35M Singapore House

Zhu and his wife purchased the property late last year for S$48.8 million ($35 million) and now they are selling it in what analysts call a slowing market.

CoinDesk - Unknown
3
CoinDesk - Unknown
Bitcoin, Ether Futures Rack up Nearly $200M in Liquidations on Short Squeeze

Price volatility arose as signs of looming recessions were renewed among investors, one analyst said.

CoinDesk - Unknown
4
CoinDesk - Unknown
Blockchain.com, Deribit Among Creditors That Pushed for 3AC Liquidation: Report

Blockchain.com has also said it is cooperating with ongoing investigations into the hedge fund, which "defrauded the crypto industry."

CoinDesk - Unknown