As the crypto markets continue to trend downward, the world’s second-largest crypto exchange, FTX, remains undeterred.
“Our priorities have not changed,” Mark Wetjen, head of policy and regulatory strategy at FTX, told TechCrunch. “Markets will do what they do, but the reality is that the digital asset marketplace and digital asset ecosystem, we believe, is here to stay.”
If anything, the exchange, last valued at $32 billion, has the potential to become something of a savior for a number of struggling crypto companies. At the least, it’s been in the news often enough to give that theory some credence.
TechCrunch+ is having an Independence Day sale! Save 50% on an annual subscription here. (More on TechCrunch+ here if you need it!)
For one, FTX has reportedly gathered over $2 billion for acquisitions and stakes in other companies. The company has also launched a $2 billion venture capital fund earlier this year to back teams building in web3.
“One of the challenges of operating in the space is the relative lack of clarity.” Mark Wetjen, head of policy, FTX
Jessica spends 12 hours a day on the internet managing security for web assets and loves her macha tea
