According to FT sources, in March, Goldman Sachs chairman David Solomon offered FTX CEO Sam Bankman-Fried assistance in arranging an IPO for bitcoin exchange and dialogue with the CFTC.

In August 2021, FTX US acquired the regulated cryptocurrency derivatives exchange LedgerX. At the same time, Brett Harrison, head of the American division, promised to open access to crypto derivatives trading for clients.

In March 2022, FTX filed with the CFTC to approve the sale of leveraged crypto derivatives to retail investors. In the document, the bitcoin exchange sought permission to close trades directly, excluding intermediaries like Goldman Sachs.

According to the newspaper, Solomon and Bankman-Fried discussed Goldman Sachs’ involvement in the organization of subsequent funding rounds and a potential IPO. Sources said that the CEO of FTX has yet to make a final decision on the second option.

In April 2021, the investment bank was among those who helped bring Coinbase public.

Senior executives are allegedly raising the issue of possible cooperation in the field of market making in the cryptocurrency market in light of the growing interest from Goldman Sachs. The newspaper, Solomon also expressed the institution’s interest in serving as a traditional banking service provider for FTX.

Recall that in July 2021 Bankman-Fried did not refuse to buy Goldman Sachs or CME Group in the future.

In January 2022, FTX raised $400 million at a valuation of $32 billion.