Can I buy shares on the FTX cryptocurrency exchange?

According to reports, FTX is secretly looking for brokerage startups as part of its launch of stock trading.

As the cryptocurrency exchange intends to expand into the stock market and its CEO invests heavily in Robinhood, FTX is looking for stock brokerage startups.

The Bahamas-based company has reportedly contacted at least three private brokerage startups about a possible purchase. According to CNBC, the sources asked not to be identified because the discussions are being kept secret. According to a source, the talks were still in their early stages and did not agree.

According to insiders, FTX has been in contact with Webull, Apex Clearing, and over the past few months.

Why go public?

The FTX platform will launch stock trading with stablecoins. 🪙

“FTX Stocks” will be the first platform for retail investors to fund their accounts with fiat-backed stablecoins like USD Coin (USDC). 

— Laurent Pignot (@PignotLaurent) May 19, 2022

Investors are holding increasingly more cryptos and shares simultaneously, and brokerage firms are trying to bring the two products closer to offer investors everything they need.

While fintechs like SoFi offer crypto trading and stocks, Robinhood has, for example, changed its revenue model by integrating cryptocurrencies.

FTX announced its entry into the shares last week. To attract more investors, it aims to offer commission-free stock trading in the United States.

READ MORE: Top 6 Crypto Staking Misconceptions, Risks, Benefits and Platforms

While Bankman-Fried, the CEO of FTX, describes Robinhood as a “great investment” with no ambition to buy the company or make changes, the case raises questions. Indeed, filing 13D with the SEC was typical of activist investors. Passive investors usually file a 13G.

And yet, with the approval of the founders, an acquisition of Robinhood could be more accessible. Robinhood’s two-class share structure offers co-founder and CEO Vlad Tenev and co-founder Baiju Bhatt more than 60% of the voting rights.

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