Crypto Trading Platform FTX Acquires Japanese Liquid Group and All of Its Subsidiaries
Liquid Group announceThe news on Wednesday said that FTX is acquiring Quoine Corporation and Quoine Pte. in Singapore, where Quoine was one of the first crypto exchanges registered by Japan’s financial regulator in 2017 and operates. Under the brand of Liquid
Terms of the deal have yet to be disclosed, but Liquid Group is valued at more than $1 billion in its first investment round in 2019, with the deal expected to close next month. which depends on the conditions in the contract
FTX is already familiar with Liquid. Last August, Liquid was hacked for close to $100 million, which FTX was able to get.supply$120 million loan
Upon completion of the acquisition, Quoine will begin integrating FTX’s products and services into its platform. And FTX’s Japanese customers will be migrated to Quoine’s platform.
FTX and Liquid are expected to work together to serve retail investors and crypto institutions in the Japanese market.
The news comes a day after FTX announced that it had raised $400 million in a Series C funding round and now FTX is worth $32 billion. And last week, FTX US, an American subsidiary of FTX, raised $400 million in its first round of funding, bringing FTX US to $8 billion.
Recently, both FTX and FTX US acquired the company. where in August 2020 FTX have boughtCrypto portfolio management app Blockfolio for $150 million and FTX US recently acquired Bitcoin derivatives platform LedgerX.
FTX CEO Sam Bankman-Fried is committed to acquiring financial giant Goldman Sachs CME Group, which he recently announced.tell to The Financial Times notes that once FTX outpaces competitors Coinbase and Binance, acquiring Goldman and CME won’t be difficult, mergers and acquisitions, also known as M&A, are rising in the crypto space. very much Last year, 201 crypto companies acquired 85+ companies, 85 more than in 2020, bringing the Crypto M&A volume past $6 billion last year, according to the cryptocurrency.The Block Research And here are the biggest crypto M&A deals, most of which took place last year.
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