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Crypto Exchange Giant FTX Enters Canada With Acquisition

June 17, 2022, 1:33 PM

Crypto exchange giant FTX is expanding its global footprint with a new acquisition in Canada, despite turmoil in the digital-asset market.

The Bahamas-headquartered crypto exchange said in a statement it has entered into an agreement to buy Bitvo, Inc., a Canadian crypto asset trading platform based in Alberta. Terms of the deal were not disclosed. The acquisition is expected to close in the third quarter of 2022.

“Our expansion into Canada is another step in proactively working with cryptocurrency regulators in different geographies across the globe,” Sam Bankman-Fried, CEO of FTX, said in the statement.

The crypto billionaire told ...