Cryptocurrency exchange Binance has invested in derivatives platform FTX. The investment is reportedly worth tens of millions of dollars.
The cryptocurrency exchange Binance continues to expand its Sunday share in derivatives.

The stock market has taken a minority stake in FTX, the cryptocurrency derivatives platform owned by Alameda Research. Although the amount of the investment was not disclosed, Sam Bankman-Fried, the founder of the exchange, told Bloomberg that the amount was in the tens of millions of dollars.

Binance's FTX move came after it bought little-known cryptocurrency derivatives platform Jex in September. FTX will continue to operate in the form of an independent entity, while Binance will rebrand Jex as Binance JEX after its acquisition.

Bankman-Fried said: “the investment will accelerate the growth of the FTX with support from Binance and strategic advice as the FTX continues to operate independently.” quoth.

In addition, the FTX said Binance was the first and only outside investor in the platform.

Binance will help the FTX grow faster and bigger, while the FTX will help Binance build liquidity and enterprise products on the main stock market alongside over-the-counter (OTC) trading.

“The FTX team has created an innovative cryptocurrency trading platform with stunning growth, " said Changpeng Zhao, CEO of Binance. With their history as professional traders, we see a bit of ourselves in the FTX team and believe in their potential to be a major player in cryptocurrency derivatives markets."he explained.

Meanwhile, Binance is also the FTT token of the FTX Binance.com he started listing it on it.

!!!IT'S DEFINITELY NOT INVESTMENT ADVICE.!!!