FTX in talks to buy one of the online-broker unicorns, CNBC reports

The cryptocurrency platform FTX is in talks to acquire several exchange firms focused on traditional securities, according to CNBC, citing sources familiar with the matter.

Sources said FTX had approached at least three online brokers with a bid to buy. Negotiations are at an early stage, and no agreements have been signed.

Sources named Webull, Apex Clearing, and Public.com among the firms the exchange had approached.

Following its funding round in February 2021, Webull was valued at $1 billion, and in the same year Public.com received a valuation of $1.2 billion. Apex Clearing planned a merger with SPAC Northern Star Investment Corp. II, valued at $4.7 billion.

Earlier, the U.S. arm of FTX opened access to trading traditional stocks to a restricted group of clients. The service is planned to be extended to the entire platform by the end of June.

The exchange’s chief, Sam Bankman-Fried, noted that the company does not charge commissions on securities trades and does not employ the practice of «payment for order flow».

In May 2022, Emergent Fidelity Technologies acquired 7.6% of Robinhood’s shares. The value of the securities exceeded $648 million.

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