2 years ago
Danny is CoinDesk's lawman concern editor. He owns BTC, ETH and SOL.
First came the meme coins. Then, the jpegs. Now FTX US is going for the archetypal retail concern play: stocks.
The Chicago outpost of Sam Bankman-Fried’s trading empire said it volition statesman investigating banal trading functionality for a fistful of U.S. users connected Thursday.
“Our extremity is to connection a holistic investing work for our customers crossed each plus classes,” President Brett Harrison said successful a statement. The institution did not supply a timeline for wider rollout.
The motorboat comes arsenic FTX makes an assertive propulsion into the accepted fiscal ecosystem. Its explosion crossed the U.S. has emboldened the trading steadfast with roots arsenic an offshore crypto derivatives speech to challenge the closely-guarded rules governing commodities markets.
That effort, which is presently being examined by the Commodities Futures Trading Commission (CFTC), has semipermanent potential. But the banal trading is 1 much motion that FTX US is increasing much funny successful the wide capitalist assemblage than exclusively crypto gamblers.
FTX US volition not complaint commissions oregon trading fees successful keeping with the low-cost brokerage exemplary that Robinhood rode to fame. it volition not monetize traders’ orders by selling the travel to high-frequency traders, a arguable signifier called outgo for bid travel that Robinhood has been criticized for.
(CEO Bankman-Fried precocious disclosed helium purchased 7% of Robinhood successful a banal buy.)
The speech besides plans to fto its customers money their accounts successful the stablecoin USDC. This efficaciously means that the aforesaid go-between plus for crypto traders tin participate the banal market, too.
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Danny is CoinDesk's lawman concern editor. He owns BTC, ETH and SOL.
Danny is CoinDesk's lawman concern editor. He owns BTC, ETH and SOL.
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