FTX in Acquisition Talks with Brokerage Firms: Report
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Cryptocurrency exchange FTX is reportedly in talks with a group of brokerage startups about an acquisition as the Bahamas-based exchange wants to expand its list of services, CNBC has learned, citing people familiar with the negotiations.

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According to the report, FTX has approached three privately held trading startups Webull, Apex Clearing and Public.com about the acquisition. However, the deal talks were confidential. The talks are still in progress, one source added. As of press time, FTX hasn't made any official statement regarding the matter.

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The news comes just a week after FTX.US, a separate cryptocurrency exchange operated by FTX, added support for stocks trading as part of its newly-formed platform called FTX Stocks. The platform has been debuted in a private beta phase for select US customers only.

The Chicago-based exchange said that it will initially route all orders through Nasdaq, and will not charge any fees or get any payment for order flow. Moreover, retail brokerage accounts can be funded with stablecoins like USD coin (USDC), in addition to the standard USD deposit methods of wire transfers, ACH transfers, and credit card deposits.

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