FTX.US president: LedgerX buy part of strategy to become the exchange for everything

Brett Harrison, president of the Sam Bankman-Fried-founded cryptocurrency exchange FTX.US, said Tuesday the company's purchase of cryptocurrency derivatives exchange LedgerX is part of its long-term strategy to become "the exchange for everything." Speaking to CNBC, Harrison asserted that adding crypto derivatives to its portfolio was part of a vision that could one day have the exchange offering trading services for more traditional assets, like "vanilla stocks and vanilla options." "We're looking in general to find cases where we can use our technology and our platform and our expertise and our culture of compliance to build a really truly excellent product," he said. On the near-term benefits of the LedgerX purchase, the president of FTX.US, the U.S. affiliate of FTX (FTT-USD), noted that the volume of crypto derivative trading outpaces the volume of spot crypto trading by "at least a factor of two or three." Meanwhile, Harrison argued that entering into the